On 18 November 2015, the UK Summer Finance Bill 2015 received Royal Assent, becoming the Finance (No. 2) Act 2015. The legislation includes measures introduced in the Summer Budget 2015. Some of the main measures include:
- Reducing the corporation tax rate from 20% to 19% in 2017 and to 18% in 2020;
- Increasing the Annual Investment Allowance to GBP 200,000 for expenditure incurred on or after 1 January 2016;
- No longer allowing a deduction for the acquisition cost of goodwill certain other i…