The budget has introduced a measure to simplify the overly complex IFA tax regime. IFAs that were created before April 2002 fall under the chargeable gains rules for corporation tax purposes. For related party acquisitions from 1 July 2020, such assets will fall out of the chargeable gains regime and instead be taxed under the corporate IFA regime. This measure covers IFAs including intellectual property such as trademarks, patents etc.