7Money purchase annual allowanceU.K.
(1)Part 4 of FA 2004 is amended as follows.
(2)In section 227ZA (chargeable amount), in subsection (1)(b), for “£10,000” substitute “ £4,000 ”.
(3)In section 227B (alternative chargeable amount), in subsections (1)(b) and (2), for “£10,000” substitute “ £4,000 ”.
(4)In section 227D (pension input amounts in respect of certain hybrid arrangements), in Steps 4 and 5 of subsection (4), for “£10,000” substitute “ £4,000 ”.
(5)The amendments made by this section have effect for the tax year 2017-18 and subsequent tax years.