SCHEDULES
SCHEDULE 17Annual allowance charge
Part 1Amendments
4
For section 228 substitute—
228Annual allowance
1
The annual allowance for the tax year 2011-12 and, subject to subsection (2), each subsequent tax year is £50,000.
2
The Treasury may by order provide that the annual allowance for any tax year subsequent to the tax year 2011-12 is such amount as is specified in the order.