# Finance Act 2013, Section 49: Annual allowance: new annual allowance for the tax year 2014-15 and subsequent tax years


(1) Section 228 of FA 2004 (annual allowance) is amended as follows.
(2) For subsection (1) substitute—
“(1) The annual allowance for the tax year 2014-15 and, subject to subsection (2), each subsequent tax year is £40,000.”
(3) In subsection (2) for “2011-12” substitute “ 2014-15 ”.
(4) The amendments made by this section have effect for the tax year 2014-15 and subsequent tax years.

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Source: https://www.legislation.gov.uk/ukpga/2013/29/section/49 (the official version)
Page: https://openlegislation.uk/finance-act-2013/section-49
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.