Parliament imposes income tax separately for each year of assessment (tax year) by passing the yearly Finance Act. The legislation provides that the Income Tax Acts’ provisions continue to apply in a new tax year despite the fact that the Finance Act may not have, as yet, been given Royal Assent. The Income and Corporation Taxes Act 1988, s. 820 does not impose the tax or allow deductions without the Finance Act being in force but allows the continuity of the administration connected with the Acts to continue.

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