Click on a link below for one of our latest news stories:

Active member of the Institute of Chartered Accountants in England & Wales


« The 2012 Budget: Tax Planning | Main | HMRC Targets Tradesmen who do not submit Tax Returns »

2012 Budget Highlights

Budget Highlights

  • Rise in Income Tax Threshold to £9,205 in 2013
  • 50p top rate of income tax reduced to 45p from April 2013
  • Tax reliefs claimed by individuals capped at 25% of total income
  • Main rate of Corporation tax cut to 24%
  • Age related allowances to be frozen in what has been dubbed the “Granny Tax”
  • New 7% Stamp Duty Land Tax (dubbed the “Mansion Tax”) on properties worth over £2m
  • No planned restrictions to pension contributions as initially proposed

For more details and analysis of the 2012 budget, please refer to our latest news section.

Reader Comments

There are no comments for this journal entry. To create a new comment, use the form below.

PostPost a New Comment

Enter your information below to add a new comment.

My response is on my own website »
Author Email (optional):
Author URL (optional):
Some HTML allowed: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <code> <em> <i> <strike> <strong>