Jun 10, 2010
Budget update
Inheritance Tax
No further changes have been made to Inheritance Tax were announced. The IHT allowance will be frozen at its 2010 –2011 level of £325,000 until 2014 – 2015. This was announced in the March 2010 budget.
Capital Gains Tax
From 23rd June 2010 Capital Gains Tax will increase from 18% to 28% for higher rate and additional rate tax payers. There is no change to the annual exemption £10,100.
VAT
The rate of VAT will increase from the current rate of 17.5% to 20% from the 4th January 2011