40Annual exempt amountU.K.
Section 1L of TCGA 1992 (which provides for an increase in the annual exempt amount to reflect increases in CPI) does not apply for [F1the tax years 2021-22 and 2022-23] (so that the annual exempt amount for each of those tax years remains at £12,300).
Textual Amendments
F1Words in s. 40 substituted (with effect for the tax year 2023-24 and subsequent tax years) by Finance Act 2023 (c. 1), s. 8(8)(b)(9)