The chancellor has announced that the Annual Investment Allowance for capital allowances purposes will be doubled to £500,000 from April 2014 until the end of 2015. As the previous increase from £25,000 to £250,000 was temporary, on expiry of the increase to £500,000 at the end of 2015 the Annual Investment Allowance will return to £25,000.
The rate of R&D payable credit for loss-making small and medium-sized enterprises (SMEs) will increase from 11 per cent to 14.5 per cent for qualifying expenditure incurred on or after 1 April 2014.
The previously announced changes to the taxation of partnerships, including the ‘salaried member rules’ and the ‘mixed member rules’, are to take effect from April 2014, despite widespread calls for them to be delayed…
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Briefings from Taylor Wessing
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