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Budget 2012

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21 March 2012

After much hype in recent weeks, the Chancellor finally made his 2012 Budget speech.

Much of what was said had been predicted, and there certainly wasn't a 'rabbit out of the hat' moment.

The key announcements included:

  • Reductions in the main rate of corporation tax from 26% to 24% from April 2012 , 23% from April 2013, and 22% from April 2014.
  • An increase in the personal allowance to £9,205 from April 2013.
  • A reduction in the additional rate of tax from 50% to 45% from April 2013.

For a brief summary of the speech, as it happened, please see our Budget highlights

 

Downloads...

For rates and allowances, download Hazlewoods Tax Fact Card

For full details of the announcement, download Hazlewoods Budget Booklet

Based on the announcements, here are some opportunities to save tax.

 

Related Budget articles...

George’s Budget Bet for Growth

Stamp Duty Land Tax (SDLT)

Child Benefit Restriction

Corporation Tax

Company Cars

Personal allowance increase

Enterprise Investment Scheme (EIS) and Venture Capital Trusts (VCT)

Enterprise Management Incentives

Inheritance Tax (IHT)

Patent Box & Research & Development (‘R&D’) Tax Incentives

VAT

 

Budget & Autumn Statement Archive...

Interested in finding out about previous Budgets?

Budget 2011

Autumn Statement 2011

Autumn Statement 2010

Emergency Budget 2010

Pre-Election Budget 2010

Budget 2009