CORPORATION TAX

The concept of associated companies will be of limited application once there is a standard rate of corporation tax of 20%, but it will still be relevant in determining whether the tax has to be paid by instalments by large companies.

ISA LIMITS 2014/15

• £11,880 (including cash maximum of £5,940)
• Junior ISAs = £3,840

ANNUAL CGT EXEMPTION

This is confirmed as £11,000 in 2014/15, so is worth a useful £3,080 at the 28% rate