How to save Tax
In the UK we have very high taxes but there are always ways of mitigating the tax. This website will help with tips and cases studies to save you tax.
The Chancellor today unveiled an Emergency Budget that was "exceptionally rich in measures, policies, changes in tone, figures and analysis," according to the Telegraph's Economics Editor, Edmund Conway. We extract the key news from today's Budget for you below:
VAT to go up to 20pc from 17.5pc
Capital gains tax for higher-rate taxpayers rises to 28pc
Child benefit to be frozen for next three years
Two-year pay freeze for public sector workers
Basic state pension linked to earnings once again, from April next year
No new tax increases on alcohol, tobacco or fuel
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Taxes:
Mr Osborne has made the following changes to tax:
VAT rises to 20pc from 17.5pc from January 4 2011.
Food, children's clothing and other VAT-free items remain exempt from VAT for current Parliament
Capital gains tax (CGT) to rise for higher-rate taxpayers to 28pc from midnight, read more here
Capital gains tax to remain at 18pc for basic-rate taxpayers
CGT exempt amount remains at £10,100 this year
Personal income tax allowance increased by £1,000 in April to £7,475
Higher rate income tax rate remains frozen to 2013/14
National Insurance threshold rises by £21 next year