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REGISTERED PENSIONS
Lifetime allowance limit
£1,000,000
Annual allowance limit
£40,000*
Money purchase annual
allowance
£4,000 (2016/17, £10,000)
Individuals
£3,600 or 100% of net relevant
earnings to £40,000*
Employers
£40,000* less employee contributions
Minimum age for accessing beneits
55
On cumulative beneits exceeding
£1,000,000
* Tapered at a rate of 50% of income > £150,000 where income plus
employer contributions exceeds £150,000 and income exceeds £110,000.
The unused amount of the annual allowance can be carried forward up to
3 years and used once the current year annual allowance has been fully
utilised.
TAX INCENTIVISED INVESTMENT
Annual investment limit
2017/18
2016/17
ISA
£20,000
£15,240
Lifetime ISA
£4,000
N/A
Junior ISA and Child Trust Fund £4,128
£4,080
Venture Capital Trust at 30% £200,000
£200,000
Enterprise Investment Scheme
(EIS) at 30%
£1,000,000
£1,000,000
Seed EIS (SEIS) at 50%
£100,000
£100,000
SEIS capital gains tax
investment relief
50%
50%
Social investment tax relief
at 30%
£1,000,000
£1,000,000
RESEARCH AND DEVELOPMENT COSTS
Research and development (R&D)
Revenue expenditure - SMEs
230%
Large company R&D taxable expenditure credit
11%
Capital expenditure - all companies
100%