Taxes Consolidation Act 1997 section 531B

Charge to income levy

Section 531B was the main charging provision for the income levy, defining the income subject to the levy, the exemptions that applied, and special rules for the 2009 transitional period and for redundancy payments.

• The income levy was a separate tax introduced by Finance (No. 2) Act 2008 with effect from 1 January 2009 and applied for 2009 and 2010 only.
• It was charged on two categories of income: "relevant emoluments" (Schedule E income) and "relevant income" (all other income), with most deductions disallowed.
• A number of statutory exemptions and deductions were specifically disregarded so that the levy reached income that was otherwise exempt or sheltered.
• Exemption thresholds applied for low-income individuals, full medical card holders and the over-65s, and special ring-fencing rules protected redundancy payments made before 1 May 2009.