Tax Privileged Investments (Maximum Investment)

	2008/09	2009/10
	£	£
ISA
Overall per tax year: Born after 5 April 1960 Born before 6 April 1960	7,200 7,200	7,200 10,200
Cash component Born after 5 April 1960 Born before 6 April 1960	3,600 3,600	3,600 5,100
Stocks and shares component Born after 5 April 1960 Born before 6 April 1960	Balance up to £7,200 Balance up to £7,200	Balance up to £7,200 Balance up to £10,200
Maximum in cash for 16 and 17 year olds	3,600	3,600
ENTERPRISE INVESTMENT SCHEME (20% income tax relief)	500,000*	500,000*
Maximum carry back to previous tax year for income tax relief	Lesser of 50% of investment and £50,000 made before 6 October 2008	£500,000
VENTURE CAPITAL TRUST (30% income tax relief)	200,000	200,000

* No limit for CGT reinvestment relief.

… Only £7,200 (£3,600 cash component) may be invested before 6 October 2009

 

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The contents of this Bulletin are based on the proposals put forward by the Chancellor in his Budget speech and explained in documents subsequently published by HMRC and the Treasury.
All Budget proposals may be subject to change before the Finance Act is passed. References to spouse, husband and wife and married couples include references to registered civil partners and civil partnerships.
This Bulletin is provided for general consideration only and no action should be taken or refrained from based on its contents alone. Accordingly, no responsibility can be accepted for any loss occasioned as a result of any such action or inaction.
Professional advice must always be taken.

This news item is provided strictly for general consideration only and is based on our understanding of law and HM Revenue & Customs practice as at July 2008. No action must be taken or refrained from based on its contents alone. Accordingly no responsibility can be assumed for any loss occasioned in connection with the content hereof and any such action or inaction. Professional advice is necessary for every case.

Burley Financial Services Ltd is a private limited company registered in England and Wales under company no. 121 7536.
Burley Financial Services Ltd is authorised and regulated by the Financial Services Authority.
We are entered on the FSA Register no 125891 at www.fsa.gov.uk/register