Budget 2014 | Fieldfisher
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Budget 2014

19/03/2014
There are the following Budget 2014 changes in the field of funds taxation:- SDRT on transactions and collective investment schemes will cease from 13 March 2014; The main ISA limit for both stocks There are the following Budget 2014 changes in the field of funds taxation:-
  • SDRT on transactions and collective investment schemes will cease from 13 March 2014;
  • The main ISA limit for both stocks and shares and cash ISAs is being increased to £15,000 from                 ;
  • A loophole permitting VCTs to distribute tax free capital within three years has been closed;
  • The 15% SDLT limit on residential property and for ATED and for capital gains tax is being reduced over a period from £2 million to £500,000.
The abolition of SDRT for collective investment scheme has of course been ????? for some time.  A number of other changes relating to funds taxation are going on in parallel (e.g. the widening of the definition of investment transactions issued on 17 March 2014).