Client Login Platform Demo

N&G News

Summer Budget 2010

We have posted our Budget Summary and Tax Tables covering the key issues in George Osbourne's first Budget. Billed at the "Unavoidable Budget" and the "Emergency Budget, this Budget contained a number of very important announcements, including:

  1. The increase in the rate of VAT from 17.5% to 20% from 1 January 2011.
  2. The increase in the Personal Allowance for the tax year 2011/12.
  3. The increase in the rate of Capital Gains Tax from 18% to 28% for higher rate tax payers.
  4. The increase in Entrepreneurs releif for Capital Gains Tax from £2 million to £5 million.
  5. The progressive cuts in corporation tax over the next four years.
  6. The abolision of the requirement to purchase an annuity at age 75 from 2011/12.
  7. The change to higher rate tax relief restrictions for high earners.