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Paragraph 8 Amendment of regulation 29

Original text. Later amendments are not shown.

(1)

Regulation 29 (notional income) shall be amended in accordance with the following provisions of this regulation.

(2)

In paragraph (3)—

(a)

in sub-paragraph (a) immediately after the words “possessed by” there shall be inserted the words “that single claimant or”;

(b)

for sub-paragraph (b) there shall be substituted the following sub-paragraph—

“(b)

to a single claimant or a member of the family in respect of a third party (but not in respect of another member of the family) shall be treated as possessed by that single claimant or, as the case may be, that member of the family to the extent that it is kept or used by him or used by or on behalf of any member of the family.”.

(3)

In paragraph (6)(a)—

(a)

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”;

(b)

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”.