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Finance Act, 1995

FIRST SCHEDULE

Amendments Consequential on Changes in Personal Reliefs

Section 3 .

The Income Tax Act, 1967 , is hereby amended in accordance with the following provisions:

(a) in section 138—

(i) in paragraph (a), by the substitution of “£5,000” for “£4,700” (inserted by the Finance Act, 1994 ),

(ii) in paragraph (b) (as amended by the Finance Act, 1988 ), by the substitution of “£3,000” and “£5,000”, respectively, for “£2,850” and “£4,700” (inserted by the Finance Act, 1994 ), and

(iii) in paragraph (c), by the substitution of “£2,500” for “£2,350” (inserted by the Finance Act, 1994 ),

and

(b) in section 138A (2) (inserted by the Finance Act, 1985 ), by the substitution of “£2,000” and “£2,500”, respectively, for “£1,850” and “£2,350” (inserted by the Finance Act, 1994 ).