Finance Act 2011 (c. 11)

SCHEDULES

SCHEDULE 17 U.K. Annual allowance charge

Part 1 U.K. Amendments

4 U.K. For section 228 substitute—

“228 Annual 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.”