Tuesday, Jun 22, 2010
2010 Emergency budget implications for UK property
The Inside Edge - UK property news and views: 2010 Budget Implications for UK property
The UK government today announced their 2010 emergency budget to the house of commons and it makes significant changes to the taxation concerning income and capital gains from property.
The Headlines:
- Income tax threshold raised by £1000 to £7475
- UK Economy growth forecasts reduced to 1.2 percent this year and 2.3% in 2011
- Capital Gains tax raised from 18% to 28% for higher rate income tax payers from midnight tonight
- Capital Gains Tax remains at 18% for low and middle-income savers
- Council Tax frozen for 12 months from April 2011
- Corporation tax to be cut progressively over the next few years
- VAT to rise from 17.5% to 20% in Aprril 2011
Posted by james @ 02:12 PM (400 views) Add Comment
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