BUDGET March 2012

Chancellor's Spring Budget March 2012.

Georbe Osborne gave his much speculated on Spring Budget on 21st March 2012.  It was never going to be easy given the opposition for tax cuts for the rich and desire for tax cuts for the poor, trying to boost business and need to balance the books.
Key Points:

Budget 2012 - Personal Allowance Increases.  Personal Allowances have been increased this year and next with a target of £10,000 tax free in 2014  ...

Budget 2012 - State Pension Changes and Pensioner Tax Allowances. No joy for pensions now or in the future we are afraid ...

Budget 2012 - Child Benefit Salary Increase.  Level at which you lose child benefit increased to £60,000  ...

Budget 2012 - Stamp Duty on £2m Homes. Also huge stamp duty payments on homes owned by company and offshore entities ...

Budget 2012 - Corporation Tax Cuts. From 26% to 24% and then to 22% ...

Budget 2012 - Bank Levy Increase. Banks will not benefit from reduced corporation tax rates ...

Budget 2012 - Cigarettes up 37p. Duty increases for cigarettes, gambling and road tax but not alcohol or hauliers...

Budget 2012 - Pension Annual Allowance. Tax relief reduced for carry forward of unused pension annual allowance to 25% ...