OpenLegislation

The Finance Act 2004 (Standard Lifetime Allowance) Regulations 2020

S.I. 2020/342 · Made 23 March 2020

Original text. legislation.gov.uk does not revise statutory instruments, so later amendments are not shown here. Changes made to it are listed under each provision when known.

Income Tax

Made 23rd March 2020

The Treasury, in exercise of the power conferred by section 218(2D) of the Finance Act 2004f1, make the following Regulations.

Annotations to the whole text

Footnotes

f1

2004 c. 12. Section 218(2) was amended by, and subsections (2A) to (2D) were inserted by, section 19(2) of the Finance Act 2016 (c. 24).

Contents

  1. 1Citation
  2. 2Standard Lifetime Allowance for the tax year 2020-21
  3. Signature
  4. Explanatory note

1Citation

These Regulations may be cited as the Finance Act 2004 (Standard Lifetime Allowance) Regulations 2020.

2Standard Lifetime Allowance for the tax year 2020-21

The standard lifetime allowance for the tax year 2020-21 is £1,073,100.

Signature

David Rutley

Iain Stewart

Two of the Lords Commissioners of Her Majesty’s Treasury

23rd March 2020

Explanatory note

(This note is not part of the Regulations)

These Regulations set out the standard lifetime allowance for the tax year 2020-21, as is required by section 218(2D) of the Finance Act 2004.

A Tax Information and Impact Note has not been prepared for this instrument as it gives effect to previously announced policy and relates to a predetermined indexation formula.