227(1) A charge to income tax, to be known as the annual allowance charge, arises where an individual who is a member of one or more registered pension schemes has a non-zero chargeable amount for a tax year.
227(1A) The chargeable amount is to be determined in accordance with section 227ZA.
227(2) [Omitted by FA 2011, s. 66 and Sch. 17, para. 3(2).]
227(3) [Omitted by FA 2011, s. 66 and Sch. 17, para. 3(2).]
227(4) The annual allowance charge is a charge at the appropriate rate in respect of the chargeable amount.
227(4A) The appropriate rate is–
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