Section 789 The individual's limit
United Kingdom
For the purposes of this Chapter an individual's limit for a tax year depends on whether the individual meets the exclusive receipts condition for the tax year (see section 790).
If the individual does, the individual's limit for the tax year is the basic amount for the tax year.
If the individual does not, the individual's limit for the tax year is half that amount.
The basic amount for a tax year is F1£7500 .
The Treasury may by order amend the sum for the time being specified in subsection (4).
Annotations
Textual amendments
- F1
Word in s. 789(4) substituted (with effect in accordance with art. 1(2) of the amending S.I.) by The Income Tax (Limit for Rent-a-Room Relief) Order 2015 (S.I. 2015/1539), arts. 1(1), 2
Notes on Part 7
Textual amendments
- F1
Words in Pt. 7 heading substituted (16.12.2010) (with effect in accordance with Sch. 1 para. 36 of the amending Act) by Finance (No. 3) Act 2010 (c. 33), Sch. 1 para. 34 (with Sch. 1 para. 37)