11(1)Part 4 of FA 2004 is amended as follows.U.K.
(2)In section 227 (annual allowance charge)—
(a)in subsection (1) (charge arises if individual has a chargeable amount) after “has a” insert “ non-zero ”, and
(b)in subsection (1A) (determination of chargeable amount (if any)) omit “(if any)”.
(3)In section 227ZA (the chargeable amount) after subsection (3) insert—
“(4)If there is no such excess, the default chargeable amount is zero.”
(4)The amendments made by this paragraph have effect for the tax year 2015-16 and subsequent tax years.