Thursday, 22 March 2012

March 2012 UK Budget



Highlights.

1. Top 50p rate of tax reduced to 45p

2. Tax free allowance threshold raised to £9,205 from April 2013.

3. 40p tax band threshold reduced from £42,475 to £41,450.

4. Pensioners' tax free allowance to be cut in real terms.

5. Child benefit to be curtailed if a household member earns more than 50k, if earning more than 60k child benefit ceases altogether.

6. Fuel duty still to go up in August.

7. Cigarettes up 37p beer up 5p.

8. Corporation tax cut to 24%, to be cut to 22% by 2014.

9. Stamp duty raised to 7% for houses worth 2m. 15% if bought by an offshore company.

10. Money for military accommodation and council tax relief for soldiers

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