Part 1Income tax, corporation tax and capital gains tax
Pensions
22Annual allowance: tapering
(1)
In Part 4 of FA 2004 (pension schemes etc), section 228ZA (tapered reduction of annual allowance) is amended as follows.
(2)
In subsection (1)—
(a)
for “£4,000” substitute “£10,000”
;
(b)
for “£240,000” substitute “£260,000”
.
(3)
In subsection (3)(a) and (b), for “£240,000” substitute “£260,000”
.
(4)
The amendments made by this section have effect for the tax year 2023-24 and subsequent tax years.