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Budget 2012 Video

Budget Highlights

  • The Income Tax Threshold will increase to £9,205 in 2013
  • 50p top rate of income tax will be reduced to 45p from April 2013
  • Tax reliefs claimed by individuals will be capped at 25% of total income
  • Main rate of Corporation tax will be cut to 24%
  • Age related allowances to be frozen for pensioners
  • New 7% Stamp Duty Land Tax on properties worth over £2m
  • No planned restrictions to pension contributions as initially proposed

Please refer to our Hot Topics section on our website for details of how this may affect you and a preview of some of the tax planning that can be implemented by Belsize Accountancy.