Taxation logo taxation mission text

Since 1927 the leading authority on tax law, practice and administration

Creating a buzz

13 August 2013 / Richard Curtis
Issue: 4415 / Categories: Comment & Analysis , Admin , Budget/Finance Act

Continuing to cut through the Finance Bill committee debates

KEY POINTS

  • Pension measures affect income drawdown limits bridging pensions and qualifying recognised overseas pension schemes.
  • Despite criticism the employee shareholder schemes legislation is approved.
  • Capital gains tax relief under the seed enterprise investment scheme is extended but halved.
  • First-year allowances for some cars and gas refuelling stations are extended.
  • The tax charges under CTA 2010 s 455 are expanded to new situations.

The 12th sitting of the Public Bill Committee drew to a close by considering clauses 49 and 50 of the Finance Bill. Clause 49 (now FA 2013 s 50) returns the income limit for those in drawdown from their pension scheme to up to 120% of the amount of an equivalent annuity. This was the limit until it was reduced to 100% in...

If you or your firm subscribes to Taxation.co.uk, please click the login box below:

If you are not a subscriber but are a registered user or have a free trial, please enter your details in the following boxes:

Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this item in full.

Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.

back to top icon