# Finance Act 2011, Paragraph 41


(1) If it appears to the Treasury that there has been a change in the value of money since the last relevant date, they may by regulations substitute for the sums for the time being specified in paragraphs 30(1), 31, 32(5) and 38(4) such other sums as appear to them to be justified by the change.
(2) “Relevant date”, in relation to a specified sum, means—
(a) the day on which this Act is passed, and
(b) each date on which the power conferred by sub-paragraph (1) has been exercised in relation to that sum.
(3) Regulations under this paragraph do not apply to—
(a) a failure which began before the date on which they come into force, or
(b) an inaccuracy in any data or document provided to HMRC before that date.

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Source: https://www.legislation.gov.uk/ukpga/2011/11/schedule/23/paragraph/41 (the official version)
Page: https://openlegislation.uk/finance-act-2011/schedule-23/paragraph-41
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.