HC Deb 19 March 1984 vol 56 c839

Motion made, and Question, That— (1) Income tax for the year 1984–85 shall be charged at the basic rate of 30 per cent., and—

  1. (a) in respect of so much of an individual's total income as exceeds £15,400 (the basic rate limit as determined under subsection (4) of section 24 of the Finance Act 1980—indexation) at such higher rates as are specified in the Table below (in which the higher rate bands are those as so determined); and
  2. (b) in respect of any sum which, by virtue of any provision of Part III of the Finance Act 1973 or Chapter I of Part III of the Finance Act 1974, is chargeable at the additional rate, as defined for the purposes of that provision, at the additional rate of 15 per cent.

Table
Part of excess over £15,400 Higher rate
The first £2,800 40 per cent.
The next £4,900 45 per cent.
The next £7,500 50 per cent.
The next £7,500 55 per cent.
The remainder 60 per cent.

(2) This Resolution shall not require any change to be made in the amounts deductible or repayable under section 204 of the Income and Corporation Taxes Act 1970 (pay as you earn) before 11th May 1984.

And it is here by declared that it is expedient in the public interest that this Resolution should have statutory effect under the provisions of the Provisional Collection of Taxes Act 1968.—[Mr. Lawson.]

put forthwith pursuant to Standing Order No. 114 (Ways and Means motions), and agreed to.