{
  "url": "https://openlegislation.uk/finance-act-2004/schedule-28/paragraph-16AE",
  "json_url": "https://openlegislation.uk/finance-act-2004/schedule-28/paragraph-16AE.json",
  "legislation": "ukpga/2004/12",
  "legislation_title": "Finance Act 2004",
  "legislation_url": "https://openlegislation.uk/finance-act-2004",
  "path": "schedule/28/paragraph/16AE",
  "kind": "paragraph",
  "number": "16AE",
  "heading": null,
  "text": "(1) In paragraphs 16AC(3) and 16AD(3), U% means the highest of—\n(a) 5%,\n(b) CPI% (see sub-paragraph (2)), and\n(c) RPI% (see sub-paragraph (3)).\n(2) If the consumer prices index for September in year P is higher than the consumer prices index for September in the tax year preceding year P, CPI% is the percentage increase in the index (but is otherwise 0%).\n(3) If the retail prices index for September in year P is higher than the retail prices index for September in the tax year preceding year P, RPI% is the percentage increase in the index (but is otherwise 0%).\n(4) In this paragraph “year P” has the same meaning as in paragraph 16AC or (as the case may be) paragraph 16AD.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Sch. 28 paras. 16A-16C inserted (6.4.2006) by Finance Act 2005 (c. 7), Sch. 10 paras. 28, 64(1)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Sch. 28 paras. 16AA-16AE inserted (with effect in accordance with s. 21(6)(7)(8)(a) of the amending Act) by Finance Act 2016 (c. 24), s. 21(3)(6)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2004/12/schedule/28/paragraph/16AE",
    "retrieved_at": "2026-10-29T09:17:16.113356+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}