Statutory Instruments
2003 No. 840
INCOME TAX
The Income Tax (Indexation) Order 2003
Made
27 March 2003
The Treasury, in exercise of the powers conferred upon them by section 1(6) of the Income and Corporation Taxes Act 1988( 1 ) hereby make the following Order:
1. This Order may be cited as the Income Tax (Indexation) Order 2003.
2. Unless Parliament determines otherwise, the amount treated as specified by virtue of section 1(4)( 2 ) of the Income and Corporation Taxes Act 1988 for the year 2003-04 –
(a) in section 1(2)(aa)( 3 ) of the Act (starting rate limit of charge to income tax) is £1,960;
(b) in section 1(2)(b)( 4 ) of the Act (basic rate limit of charge to income tax) is £30,500.
Jim Fitzpatrick
John Heppell
Two of the Lords Commissioners of Her Majesty’s Treasury
27 th March 2003
1988 c. 1 . Section 1(6) was amended by section 9(7) and (10) of the Finance Act 1992 (c. 20) .
Section 1(4) was amended by section 107 of the Finance Act 1993 (c. 34) , section 9 of the Finance Act 1992 (c. 20) , and section 22 (4), (5), and (12) of the Finance Act 1999 (c. 16) .
Section 1(2)(aa) was amended by section 22(1) and (12) of the Finance Act 1999 (c. 16) .
Section 1(2)(b) was amended by section 24(2) of the Finance Act 1988 (c. 39) .