PART 1Income tax, corporation tax and capital gains tax

CHAPTER 1Income tax and corporation tax charges and rate bands

Income tax

3Personal allowance for 2012-13 for those aged under 65

(1)For the tax year 2012-13 the amount specified in section 35(1) of ITA 2007 (personal allowance for those aged under 65) is replaced with “£8,105”.

(2)Accordingly section 57 of that Act (indexation of allowances), so far as relating to the amount specified in section 35(1) of that Act, does not apply for that tax year.