The Principal Act is amended -

(a) in section 458, in Part 2 of the Table, by the insertion of "Section 473B" after "Section 473A", and

(b) by the insertion of the following section after section 473A:

"473B. Rent tax credit

(1) In this section -

'appropriate percentage', in relation to a year of assessment, means a percentage equal to the standard rate of tax for that year;

'approved course' has the same meaning as it has in section 473A;

'child' means a child of an individual, or a child of the individual's spouse or civil partner, who has not attained the age of 23 years at the commencement of the year of assessment during which he or she first enters an approved course;

'claimant' has the meaning given to it in subsection (2);

'landlord', in relation to a residential property, means the person for the time being entitled to receive (otherwise than as agent for another person) any payment on account of rent paid under a tenancy in respect of the residential property;

'payment on account of rent' means a payment made in return for the special possession, use, occupation or enjoyment of a residential property, but does not include -

(a) any portion of such payment which has been, or is to be, reimbursed, or otherwise funded by way of a subsidy provided -

(i) to the claimant, or