Part 1Income tax, corporation tax and capital gains tax

Pensions

21Money purchase annual allowance

(1)

Part 4 of FA 2004 (pension schemes etc) is amended as follows.

(2)

In the following provisions, for “£4,000” substitute “£10,000”—

(a)

section 227ZA(1)(b);

(b)

section 227B(1)(b) and (2);

(c)

in section 227D(4), Steps 4 and 5.

(3)

In consequence of the amendments made by this section, in F(No.2)A 2017, omit section 7.

(4)

The amendments made by this section have effect for the tax year 2023-24 and subsequent tax years.