{
  "url": "https://openlegislation.uk/finance-act-2011/section-8",
  "json_url": "https://openlegislation.uk/finance-act-2011/section-8.json",
  "legislation": "ukpga/2011/11",
  "legislation_title": "Finance Act 2011",
  "legislation_url": "https://openlegislation.uk/finance-act-2011",
  "path": "section/8",
  "kind": "section",
  "number": "8",
  "heading": "Annual exempt amount",
  "text": "(1) Section 3 of TCGA 1992 (annual exempt amount) is amended as follows.\n(2) For subsection (2) substitute—\n“(2) The exempt amount for a tax year is £10,600.”\n(3) For subsections (3) and (4) substitute—\n“(3) If there is a relevant increase in RPI in relation to a tax year—\n(a) the exempt amount is to be increased in accordance with Steps 1 and 2, and\n(b) subsection (2) has effect from then on (for that and subsequent tax years) as if it referred to the increased amount,\nunless Parliament otherwise determines.\n(3A) There is a relevant increase in RPI in relation to a tax year if the retail prices index for the September before the start of the tax year is higher than it was for the previous September.\n(3B) Steps 1 and 2 are—\nStep 1 Increase the exempt amount for the previous tax year by the same percentage as the percentage of the relevant increase in RPI.\nStep 2 If the result of Step 1 is not a multiple of £100, round it up to the nearest multiple of £100.\n(4) If there is a relevant increase in RPI in relation to a tax year, the Treasury must before the start of that tax year make an order showing the amount arrived at as a result of Steps 1 and 2.”\n(4) The amendment made by subsection (2) has effect for the tax year 2011-12 and subsequent tax years.\n(5) For the tax year 2011-12, section 3(3) of TCGA 1992 (indexation) does not apply.\n(6) The amendment made by subsection (3) has effect for the tax year 2012-13 and subsequent tax years.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2011/11/section/8",
    "retrieved_at": "2026-10-29T09:09:31.813616+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."
}