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Part 4U.K.Pension schemes etc

Chapter 5U.K.Registered pension schemes: tax charges

Annual allowance chargeU.K.

[F1228Annual allowanceU.K.

(1)The annual allowance for the tax year 2011-12 and, subject to subsection (2), each subsequent tax year is £50,000.

(2)The Treasury may by order provide that the annual allowance for any tax year subsequent to the tax year 2011-12 is such amount as is specified in the order.]

Textual Amendments

F1S. 228 substituted (with effect in accordance with Sch. 17 Pt. 2 of the amending Act) by Finance Act 2011 (c. 11), Sch. 17 para. 4

Commencement Information

I1Ss. 160-274, 281, Schs. 30-35 in force at 6.4.2006 but any power to make an order or regulations under those provisions may be exercised at any time after Royal Assent, see s. 284