budget 2011

There were no new announcements on tax credits, so the previously publicised rates and changes apply.

There were no surprises on savings and investments in the Budget.

The government is to look at merging income tax and National Insurance, chancellor of the exchequer George Osborne has announced.

As previously announced, from April 2011 the amount of higher-rate and additional-rate income tax relief will be restricted for new entrants to childcare voucher salary sacrifice schemes.

It was announced in the Budget that the income tax relief available through the Enterprise Investment Scheme (EIS) has been increased from 20 per cent to 30 per cent, and the annual amount that can

The annual capital gains tax allowance has been increased with inflation from £10,100 to £10,600 from April 2011.

The headline change for businesses in the 2011 Budget was the two per cent reduction in corporation tax, which was 1 per cent higher than the cut already announced.

It was announced in the Budget that anybody leaving 10 per cent or more of their estate to charity will pay a lower rate of inheritance tax on the remainder of their estate from April 2012 onwards.

First-time buyers will be helped by a new £250 million scheme to provide interest-free loans on new-build properties where the household income is below £60,000 per year.

The chancellor of the exchequer announced in the Budget that the personal allowance for people under 65 will rise by a further £630 to £8,105 in 2012-13.