The Income Tax (Earnings and Pensions) Act 2003 (Section 684(3A)) Order 2011

Made: 28th June 2011

Laid before the House of Commons: 29th June 2011

Coming into force: 20th July 2011

The Treasury make the following Order in exercise of the power conferred by section 684(3B) of the Income Tax (Earnings and Pensions) Act 2003[^f00001].

Citation and commencement

1

This Order may be cited as the Income Tax (Earnings and Pensions) Act 2003 (Section 684(3A)) Order 2011 and comes into force on 20th July 2011.

Increase of limit in section 684(3A) of the Income Tax (Earnings and Pensions) Act 2003

2

• (1) The amount specified in section 684(3A) of the Income Tax (Earnings and Pensions) Act 2003 is amended as follows.

• (2) For “£2,000” substitute “£3,000”.

Signed

Brooks Newmark — Jeremy Wright — Two of the Lords Commissioners of Her Majesty’s Treasury — 28th June 2011

Explanatory note

(This note is not part of the Order)

EXPLANATORY NOTE

This Order increases the coding out limit for deductions in respect of “relevant debts” in section 684(3A) of the Income Tax (Earnings and Pensions) Act 2003 from £2,000 to £3,000. “Relevant debts” are defined in section 684(7AA) and include any debt payable to the Commissioners excluding tax credits.

A Tax Information and Impact Note covering this instrument was published on 11 April 2011 and is available on the HMRC website at http://www.hmrc.gov.uk/thelibrary/tiins.htm. It remains an accurate summary of the impacts that apply to this instrument.

Footnotes

[^f00001]: 2003 c. 1. Section 684(3A) and (3B) were inserted by paragraph 4 of Schedule 58 to the Finance Act 2009 (c. 10) (“the Schedule”). The section was further amended by paragraphs 3 and 6 of the Schedule. There are other amendments but none are relevant.