Section 3 | Personal allowances for 2015-16

(1)Section 2 of FA 2014 (basic rate limit for 2015-16 and personal allowances from 2015) is amended as set out in subsections (2) and (3).

(2)In subsection (1)(b) (amount specified for 2015-16 in section 35(1) of ITA 2007 (personal allowance for those born after 5 April 1938)), for “ “£10,500”” substitute “ “£10,600” ”.

(3)In subsection (8) (amendments of section 57 of ITA 2007), omit the “and” at the end of paragraph (a) and after that paragraph insert—

(aa)in subsection (1)(h), omit “36(2),”, and

.

(4)In section 55B(4)(a) of ITA 2007 (transferable tax allowance for married couples and civil partners: entitlement to tax reduction), for “£1,050” substitute “ £1,060 ”.

(5)The amendments made by subsections (3) and (4) have effect for the tax year 2015-16 and subsequent tax years.