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Finance Act 2013
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- 2013 c. 29
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- CHAPTER 4
- Section 49
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49Annual allowance: new annual allowance for the tax year 2014-15 and subsequent tax yearsU.K.
This section has no associated Explanatory Notes
(1)Section 228 of FA 2004 (annual allowance) is amended as follows.
(2)For subsection (1) substitute—
“(1)The annual allowance for the tax year 2014-15 and, subject to subsection (2), each subsequent tax year is £40,000.”
(3)In subsection (2) for “2011-12” substitute “ 2014-15 ”.
(4)The amendments made by this section have effect for the tax year 2014-15 and subsequent tax years.
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