# Finance Act 2011, Paragraph 4


For section 228 substitute—
“Annual allowance
228 (1) The annual allowance for the tax year 2011-12 and, subject to subsection (2), each subsequent tax year is £50,000.
(2) The Treasury may by order provide that the annual allowance for any tax year subsequent to the tax year 2011-12 is such amount as is specified in the order.”

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Source: https://www.legislation.gov.uk/ukpga/2011/11/schedule/17/paragraph/4 (the official version)
Page: https://openlegislation.uk/finance-act-2011/schedule-17/paragraph-4
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.