9
Autumn Budget 2017
Investment tax reliefs
2018/19
2017/18
Venture Capital Trust up to
£200,000
£200,000
£1,000,000
£1,000,000
Enterprise Investment Scheme up to*
£100,000
£100,000
Seed Enterprise Investment Scheme up to
£1,000,000
£1,000,000
Social Investment Tax Relief up to
*For 2018/19 the annual limit is increased to £2m, provided that anything above £1m is invested in knowledge-intensive companies.
Individual Savings Accounts (ISAs) Individuals can invest in any combination of cash or stocks and shares up to the overall annual ISA subscription limit. However, a saver may only pay into a maximum of one Cash ISA, one Stocks and Shares ISA, one Innovative Finance ISA and one Lifetime ISA. The Lifetime ISA, which came into effect on 6 April 2017, is available to adults aged between 18 and 40 to save towards retirement or for a first home in the UK worth up to £450,000. Those eligible can deposit up to £4,000 each tax year and will receive a 25% bonus from the government on savings put into the account before their 50th birthday. Various rules and restrictions apply.
The ISA subscription limit for 2018/19 will remain unchanged at £20,000, of which £4,000 can be saved into a Lifetime ISA.
The annual subscription limit for Junior ISAs and Child Trust Funds for the tax year 2018/19 will be uprated in line with CPI from £4,128 to £4,260. Pensions Lifetime Allowance (LTA) The LTA represents the maximum amount that an individual can save into their pension pot and still benefit from tax relief at their marginal rate.
The LTA will increase in line with CPI, rising to £1,030,000 for the tax year 2018/19.
The Parliament of Bats was held in 1426 - political tensions precluded the carrying of swords, so members armed themselves with clubs and bats
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