Section 681F Alteration of income limit etc by Treasury orderF1

United Kingdom

(1)

The Treasury may by order—

(a)

substitute another amount for the amount for the time being specified in section 681B(1)(a) and defined as “L” in section 681C(2), or

(b)

substitute another amount for the amount defined as “X” in section 681C(2).

(2)

An order under this section has effect for tax years beginning after the order is made.

(3)

A statutory instrument containing an order under this section which increases any person's liability to income tax may not be made unless a draft of it has been laid before and approved by a resolution of the House of Commons.

Annotations

Textual amendments

F1: Pt. 10 Ch. 8 inserted (with effect in accordance with Sch. 1 para. 7 of the amending Act) by Finance Act 2012 (c. 14), Sch. 1 para. 1

Notes on Part 10

Textual amendments

F1: Word in Pt. 10 heading inserted (for the tax year 2025-26 and subsequent tax years) by Finance Act 2026 (c. 11), Sch. 10 paras. 1(2), 5