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Regulation 8 Amendment of regulation 26 of the principal Regulations

Original text. Later amendments are not shown.

In regulation 26 of the principal Regulations (notional income)—

(a)

in paragraph (3)(a) for the words from “eligible rent” to “refers,” there shall be substituted the word “rent”;

(b)

in paragraph (7)(a)—

(i)

for the words “the basic rate of tax” there shall be substituted the words “the lower rate or, as the case may be, the lower rate and the basic rate of tax”;

(ii)

after the words “less than a year” there shall be inserted the words “, the earnings to which the lower rate and, if appropriate, the basic rate of tax is to be applied and”.