HC Deb 27 March 2000 vol 347 cc157-8

Resolved,

That—

(1) Section 1A of the Income and Corporation Taxes Act 1988 shall be amended as follows.

(2) In subsection (1)(b), after the words "is not" there shall be inserted "—

  1. (i) savings income falling within section 1(2)(aa), or
  2. (ii)".

(3) After subsection (1) there shall be inserted—

"(1AA) In subsection (1)(b)(i) 'savings income' means income to which this section applies other than—

  1. (a) income chargeable under Schedule F, or
  2. (b) equivalent foreign income falling within subsection (3)(b) below and chargeable under Case V of Schedule D.".

(4) The preceding paragraphs apply for the year 2000–01 and subsequent years and shall be deemed to have had effect for the year 1999–00.

And it is hereby 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.