News Tag Results for "Finance bill 2019/20"

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Autumn Budget 2018 - Pensions lifetime allowance uplift

The lifetime allowance for pension savings will increase with the Consumer Prices Index (CPI), rising to £1,055,000 for 2019/20.


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Autumn Budget 2018 - tax treatment of expenses for unpaid officeholders

The government will legislate in Finance Bill 2019/20, so that expenses paid or reimbursed to unpaid office-holders are exempt from income tax when incurred because of their voluntary duties. This ... more


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Capital allowances: clarification of allowances for costs of altering land

Finance Bill 2018/19 will include provisions to clarify which expenditure on altering land may qualify for capital allowances for the purposes of installing plant or machinery. Allowances are inten... more


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Corporate capital loss restriction

The government will legislate in the Finance Bill 2019/20 to restrict companies’ use of carried-forward capital losses to 50% of capital gains from 1 April 2020. The provisions will include a... more


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IHT: changes to Residence Nil Rate Band

Minor technical amendments are to be made to the residence nil rate band (RNRB) for IHT purposes. The amendments seek to clarify the working of the downsizing rules and provide certainty over when ... more


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Preventing abuse of the R&D tax relief for SMEs

The Finance Bill 2019/20 will introduce a limit on the amount of payable tax credit that can be claimed by a company under the Research & Development (R&D) SME tax relief. The limit will be... more


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Tax treatment of Social Security Benefits

Legislation will be introduced in Finance Bill 2018/19 to clarify the income tax treatment of 9 social security benefits. The tax treatment of these benefits will be legislated for as follows: ... more


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Temporary increase in the AIA

Legislation will be introduced in Finance Bill 2018/19 to temporarily increase the annual investment allowance (AIA) limit to £1,000,000 from 1 January 2019 for two years. Transitional r... more