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Budget 2012: What to look out for today

by: Mortgage Solutions
  • 20/03/2012
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Budget 2012: What to look out for today
Mortgage Solutions today brings you LIVE coverage of all the measures in what some observers are dubbing a "Budget for the rich".

Log on to Mortgage Solutions from 12.30pm as we bring you measure-by-measure coverage as Chancellor George Osborne makes his statement to the House of Commons.

From 3pm, you can also follow our LIVE studio analysis of all of today’s announcements.

So, what will Osborne announce today?

Well, in what may be the most-leaked Budget in history, the Chancellor will reduce one tax – the 50p income tax rate – and replace it with a myriad of other taxes on the rich.

The top rate of tax will be reduced to 45p from April next year (although the BBC‘s Robert Peston has questioned the purpose of a delay and wonders whether it will instead be implemented immediately).

Although a ‘mansion tax’ was ruled out in recent months, a new 7% top layer of Stamp Duty Land Tax was announced this morning on homes worth over £2m.

Elsewhere, Osborne is expected to raise the tax-free personal allowance. It will rise to £8,105 a year next month, to about £9,000 in April next year – a big step towards the Liberal Democrat goal of £10,000.

Meanwhile, you can also track every measure announced relating to pensions tax relief, ISA allowances, VCTs, Stamp Duty, tax avoidance and child benefit.

 

 

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