Introduction Details of the Section
2.Subsection (1) sets the annual exempt amount at £11,100 for 2015-16 and subsequent tax years.
3.Subsection (2) disapplies the indexation provisions for the annual exempt amount for 2015-16 only. Therefore for tax year 2016-17 onwards the annual exempt amount will be adjusted (if necessary) in accordance with section 3(3) unless Parliament otherwise determines.