Section 4 | Basic rate limit from 2016

(1)The amount specified in section 10(5) of ITA 2007 (basic rate limit) is replaced—

(a)for the tax year 2016-17, with “£32,000”, and^F1

(b)for the tax year 2017-18, with “£33,500”.^F2

(2)Accordingly, for those tax years section 21 of that Act (indexation of limits), so far as relating to the basic rate limit, does not apply.