March 26 2020

The Income Tax (Indexation) Order 2020 (S.I. No 343/2020) made

Source: IBFD Tax Research Platform News

The Income Tax (Indexation) Order 2020 (S.I. No 343/2020) was made on 23 March 2020. The Order fulfils the indexation requirement in section 57 of the Income Tax Act 2007 (c. 3), which provides that certain specified allowances and limits are increased by reference to the Consumer Prices Index. These increases have effect for the 2020-21 tax year.