OpenLegislation

Paragraph 1

Original text. Later amendments are not shown.

The sum specified in this Schedule is the sum determined by the formula–

A×B

where

A

  • 0.55/100, and

    • B

  • the specified income for the year ended 31st December 1999 as determined in accordance with paragraphs 2 to 4 below provided that–

    1. (a)

      where the resultant sum exceeds £47,000, the sum is £47,000; and

    2. (b)

      where the resultant sum is less than £350, the sum is £350.