FINANCE ACT CHANGES Flashcards
1
Q
New: How much is the pension lifetime allowance?
A
ABOLISHED 23/4
2
Q
New: Can spouses transfer at NGNL after separating?
A
YES
For 3 tax years (and as divorce settlement)
3
Q
New full expensing (recap of rules): What do you get full expensing on?
A
Main rate new P&M (Not cars, gifts or for lease)
(50% FYA remains for SRP pool, with WDAs allowable for rest of the 50%)
4
Q
New: Company R&D: What else can you add to qualifying expense?
A
Creating intangible assets
