Part 3Income tax, corporation tax and capital gains tax
Chapter 1Income tax and corporation tax charge and rate bands
Income tax
23Charge and rates for 2004-05
Income tax shall be charged for the year 2004-05, and for that year—
a
the starting rate shall be 10%;
b
the basic rate shall be 22%;
c
the higher rate shall be 40%.
24Personal allowances for those aged 65 or more
1
For the year 2004-05—
a
the amount specified in section 257(2) of the Taxes Act 1988 (claimant aged 65 or more) shall be £6,830; and
b
the amount specified in section 257(3) of that Act (claimant aged 75 or more) shall be £6,950.
2
Accordingly, section 257C(1) of that Act (indexation), so far as it relates to the amounts so specified, does not apply for that year.