Part 1Income tax, corporation tax and capital gains tax
Pensions
20Annual allowance increased
(1)
In Part 4 of FA 2004 (pension schemes etc), section 228 (annual allowance) is amended as follows.
(2)
For subsection (1) substitute—
“(1)
The annual allowance for the tax year 2023-24 and, subject to subsection (2), each subsequent tax year is £60,000.”
(3)
In subsection (2) for “2014-15” substitute “2023-24”
.