Article 2 Chargeable amounts
The amounts that by virtue of section 101 of the Finance Act 2013 (indexation of annual chargeable amounts) are to be the annual chargeable amounts for chargeable periods beginning on or after 1st April 2020 are determined in accordance with the following table, by reference to the taxable value of the interest on the relevant dayf1.
| Annual chargeable amount | Taxable value of the interest on the relevant day |
|---|---|
| £3,700 | More than £500,000 but not more than £1 million. |
| £7,500 | More than £1 million but not more than £2 million. |
| £25,200 | More than £2 million but not more than £5 million. |
| £58,850 | More than £5 million but not more than £10 million. |
| £118,050 | More than £10 million but not more than £20 million. |
| £236,250 | More than £20 million. |
Annotations
Footnotes
- f1
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“Relevant day” is defined in section 99(5) of the Finance Act 2013.