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Finance Act 2016

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Changes over time for: Paragraph 11

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Point in time view as at 24/02/2022.

Changes to legislation:

Finance Act 2016, Paragraph 11 is up to date with all changes known to be in force on or before 15 February 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

11(1)To determine amount B—U.K.

(a)identify each benefit crystallisation event that has occurred in relation to the individual during the period beginning with 6 April 2006 and ending with 5 April 2016,

(b)determine the amount that was crystallised by each of those benefit crystallisation events (applying paragraph 14 of Schedule 34 to FA 2004 if relevant), and

(c)multiply each crystallised amount by the following fraction—

where SLT is an amount equal to what the standard lifetime allowance was at the time when the benefit crystallisation event in question occurred.

(2)Amount B is the sum of the crystallised amounts determined under sub-paragraph (1)(b) as adjusted under sub-paragraph (1)(c).

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