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
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
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
Budget & Autumn Statement Archive...
Interested in finding out about previous Budgets?
Autumn Statement 2011
Autumn Statement 2010
Emergency Budget 2010
Pre-Election Budget 2010