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821Meaning of “relevant limit”

(1)    For the purposes of sections 822 and 823 the “relevant limit” for a period of account in which the individual's foster-care receipts accrue is found by adding—

(a)    the fixed amount for the tax year in which that period ends or (as the case may be) the individual's share of the fixed amount for that year (found in accordance with sections 808 to 810), and

(b)    for each of the tax years in which the period of account falls, each amount per child for the individual for each part of the period of account falling in that tax year.

(2)    For this purpose an individual's amount per child for a part of the period of account is each amount that would be the individual's amount per child under section 811 for the tax year in which the part falls if that part were the income period for that year.

NOTES
Initial Commencement
Specified date

This Act comes into force on 6 April 2005 and has effect, for the purposes of income tax for the year 2005–06 and subsequent tax years, and for the purposes of corporation tax for accounting periods ending after 5 April 2005: see s 883; for transitional provisions and savings see Sch 2 hereto.
Income Tax Allowances, Deductions & Reliefs93 Company Law & Business Entities92 Personal Taxes94 Companies & Corporate Bodies92 Income Tax99 Trading Income94 Tax Law99

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