Finance Act, 1990
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Miscellaneous (Chapter II). |
27.—(1) As respects the year 1990-91 and subsequent years of assessment, section 236 of the Income Tax Act, 1967 , is hereby amended by the substitution of the following subsection for subsection (11) (inserted by the Finance Act, 1974 ), other than the proviso thereto: | |
“(11) Where, in relation to a year of assessment, a qualifying premium is paid after the end of the year of assessment but on or before the 31st day of January in the year following the year of assessment, the premium may, if the individual so elects on or before the said 31st day of January, be treated for the purposes of this section as paid in the earlier year (and not in the year in which it is paid):”. | ||
(2) The following provisions shall not apply or have effect for the year 1990-91 or any subsequent year of assessment, that is to say— | ||
(a) subsection (1AA) (inserted by the Finance Act, 1979 ) of section 307, and section 546 , of the Income Tax Act, 1967 ; | ||
(b) section 20 of the Finance Act, 1988 . |