Section 15 of the Principal Act is hereby amended, as respects the year of assessment 1999-2000 and subsequent years of assessment, by the substitution of the following Table for the Table to that section:
"Table
Part 1
|
Part of taxable income |
Rate of tax |
Description of rate |
|||
|---|---|---|---|---|---|
|
(1) |
(2) |
(3) |
|||
|
The first £14,000 |
... |
... |
... |
24 per cent |
the standard rate |
|
The remainder |
... |
... |
... |
46 per cent |
the higher rate |
Part 2
|
Part of taxable income |
Rate of tax |
Description of rate |
|||
|---|---|---|---|---|---|
|
(1) |
(2) |
(3) |
|||
|
The first £28,000 |
... |
... |
... |
24 per cent |
the standard rate |
|
The remainder |
... |
... |
... |
46 per cent |
the higher rate |
".