The Income Tax (Indexation) Order 1998
Sections 1(6) and 257C(3) of the Income and Corporation Taxes Act 1988 (“the Act”) operate to provide that the Treasury shall by order made by statutory instrument before 6th April 1998 specify the amounts which by virtue of those sections shall, unless Parliament otherwise determines, be treated as specified for the year 1998–99. These are the lower rate and basic rate limits (section 1 of the Act), the personal and married couple’s allowances (sections 257 and 257A of the Act respectively) and, by virtue of the extension to section 257 of the Act by section 56(2) of the Finance Act 1997, the blind person’s allowance (section 265 of the Act).