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.