Budget 2010

On Wednesday 24^th March Alistair Darling made his Budget speech to the House. Despite incorporating an amusing reference to Belize, it was a low-impact event with core tax rates changing very little. Contrary to some of the more pessimistic predictions, CGT rates were not brought into line with income tax rates, business property relief and agricultural property relief from inheritance tax remained intact and VAT rates did not increase to 20-25%. Nonetheless, taxation by stealth was continued through the freezing of personal allowances, the CGT annual exemption, the income tax bands and the inheritance tax nil rate band - and there will very probably be another Budget after the election.

Private Client - read more

Business Taxation - read more