FIRST SCHEDULE

Amendment of Enactments

Section 2.

PART I

Amendments Consequential on Changes in Rates of Tax

The Income Tax Act, 1967 , is, in relation to income tax for the year 1979-80 and subsequent years of assessment, hereby amended in accordance with the following provisions:

(a) in section 1 (1), the definition of “initial rate” (inserted by section 5 of the Finance Act, 1977 ) shall be deleted,

(b) in section 153 (1) (dd), “or rates”, in each place where it occurs, shall be deleted,

(c) in section 497, “initial rate or”, in each place where it occurs, and “as appropriate” shall be deleted, and

(d) in section 525 (1), subparagraph (i) (a) shall be deleted.

PART II

Amendments Consequential on Changes in Personal Reliefs

Section 3.

The Income Tax Act, 1967 , is hereby amended in accordance with the following provisions:

(a) in section 138—

(i) in subsection (1), for “£1,730” in each place where it occurs, there shall be substituted “£2,230”, for “£865” there shall be substituted “£1,115” and for “£1,845” there shall be substituted “£2,345”, and

(ii) in subsection (2), for “£865” in each place where it occurs, there shall be substituted “£1,115” and for “£935” there shall be substituted “£1,185”,

(b) in section 141, in subsection (1A), for “£240” there shall be substituted “£218”.