2020 No. 342
Income Tax
The Finance Act 2004 (Standard Lifetime Allowance) Regulations 2020
Made
The Treasury, in exercise of the power conferred by section 218(2D) of the Finance Act 20041, make the following Regulations.
Citation1.
These Regulations may be cited as the Finance Act 2004 (Standard Lifetime Allowance) Regulations 2020.
Standard Lifetime Allowance for the tax year 2020-212.
The standard lifetime allowance for the tax year 2020-21 is £1,073,100.
David Rutley
Iain Stewart
Two of the Lords Commissioners of Her Majesty’s Treasury
EXPLANATORY NOTE
(This note is not part of the Regulations)
These Regulations set out the standard lifetime allowance for the tax year 2020-21, as is required by section 218(2D) of the Finance Act 2004.
A Tax Information and Impact Note has not been prepared for this instrument as it gives effect to previously announced policy and relates to a predetermined indexation formula.