# Finance (No. 2) Act 2023, Section 22: Annual allowance: tapering

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

(1) In Part 4 of FA 2004 (pension schemes etc), section 228ZA (tapered reduction of annual allowance) is amended as follows.
(2) In subsection (1)—
(a) for “£4,000” substitute “£10,000”;
(b) for “£240,000” substitute “£260,000”.
(3) In subsection (3)(a) and (b), for “£240,000” substitute “£260,000”.
(4) The amendments made by this section have effect for the tax year 2023-24 and subsequent tax years.

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Source: https://www.legislation.gov.uk/ukpga/2023/30/section/22 (the official version)
Page: https://openlegislation.uk/finance-no-2-act-2023/section-22
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.