{
  "url": "https://openlegislation.uk/finance-act-2004/section-228",
  "json_url": "https://openlegislation.uk/finance-act-2004/section-228.json",
  "legislation": "ukpga/2004/12",
  "legislation_title": "Finance Act 2004",
  "legislation_url": "https://openlegislation.uk/finance-act-2004",
  "path": "section/228",
  "kind": "section",
  "number": "228",
  "heading": "Annual allowance",
  "text": "(1) The annual allowance for the tax year 2023-24 and, subject to subsection (2), each subsequent tax year is £60,000.\n(2) The Treasury may by order provide that the annual allowance for any tax year subsequent to the tax year 2023-24 is such amount as is specified in the order.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "S. 228(1) substituted (with effect in accordance with s. 49(4) of the amending Act) by Finance Act 2013 (c. 29), s. 49(2)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "S. 228(1) substituted (11.7.2023) by Finance (No. 2) Act 2023 (c. 30), s. 20(2)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Word in s. 228(2) substituted (11.7.2023) by Finance (No. 2) Act 2023 (c. 30), s. 20(3)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2004/12/section/228",
    "retrieved_at": "2026-10-28T17:08:09.921968+00:00",
    "licence": "OGL-UK-3.0",
    "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."
  }
}