OpenLegislation

Explanatory note

Original text. Later amendments are not shown.

(This note is not part of the Order)

This Order increases the coding out limit for deductions in respect of “relevant debts” in section 684(3A) of the Income Tax (Earnings and Pensions) Act 2003 from £2,000 to £3,000. “Relevant debts” are defined in section 684(7AA) and include any debt payable to the Commissioners excluding tax credits.

A Tax Information and Impact Note covering this instrument was published on 11 April 2011 and is available on the HMRC website at http://www.hmrc.gov.uk/thelibrary/tiins.htm. It remains an accurate summary of the impacts that apply to this instrument.