Annual investment allowance increased
Most businesses are able to claim an Annual Investment Allowance (AIA) on the first £50,000 spent on plant and machinery.
Close company loan write offs
Close companies, generally meaning family and owner managed companies, are subject to special rules in relation to loans or advances made to participators and their associates.
Entrepreneurs’ relief
The amount of an individual’s capital gains that can qualify for Entrepreneurs’ Relief are currently subject to a lifetime limit of £1 million.
Inheritance tax nil rate band frozen
As previously announced, the nil rate band for 2010/11 will be frozen at the current level of £325,000.
Stamp duty land tax and first time home buyers
At present the Stamp Duty Land Tax rate is 1% for residential property purchases where the consideration is more than £125,000 but does not exceed £250,000.
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