On 13 February 2013, the government published the Finance Bill 2013. Some of the main measures included in the Bill, which were not announced in the Budget of 5 December 2012 are as follows.
Business taxation
(a) Intangible asset regime. Under the current rules, there is a clawback of capital allowances if the eligible IP assets are disposed of, or cease to be used in a trade, within 10 years of acquisition. The Bill includes measures to shorten this period to 5 years.
(b) Research a…