# Finance (No. 2) Act 2023, Section 20: Annual allowance increased

Extent: E+W+S+N.I.

(1) In Part 4 of FA 2004 (pension schemes etc), section 228 (annual allowance) is amended as follows.
(2) For subsection (1) substitute—
“(1) The annual allowance for the tax year 2023-24 and, subject to subsection (2), each subsequent tax year is £60,000.”
(3) In subsection (2) for “2014-15” substitute “2023-24”.

---
Source: https://www.legislation.gov.uk/ukpga/2023/30/section/20 (the official version)
Page: https://openlegislation.uk/finance-no-2-act-2023/section-20
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.