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REGISTERED PENSIONS
Lifetime allowance limit
£1.03m
Money purchase annual allowance
£4,000
Annual allowance limit
£40,000*
Minimum age for accessing beneits
55
On cumulative beneits exceeding
£1.03m
* Tapered at a rate of 50% of income down to £10,000 if threshold income over
£110,000 and adjusted income over £150,000.
Subject to certain conditions, 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-EFFICIENT INVESTMENTS
Annual investment limit
2018/19 2017/18
ISA
£20,000 £20,000
Lifetime ISA
£4,000
£4,000
Help to Buy ISA
£1,000 initial and £200
per month
Junior ISA and Child Trust Fund
£4,260
£4,128
Venture Capital Trust at 30%
£200,000 £200,000
Enterprise Investment Scheme (EIS) at 30%
£2m*
£1m
Seed EIS (SEIS) at 50%
£100,000 £100,000
SEIS capital gains tax reinvestment relief
50% 50%
Social investment tax relief at 30%
£1m £1m
* Amounts over £1m must be in a knowledge
-
intensive company.
RESEARCH AND DEVELOPMENT COSTS
Research and development (R&D)
Revenue expenditure – SMEs
230%
Capital expenditure – all companies
100%
Large company R&D taxable expenditure credit*
12%
* Effective from 1 January 2018, replacing previous rate of 11%.