PART 1Direct taxes
Income tax: employment and pensions
7Money purchase annual allowance
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.