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Daily Telegraph Tax Guide 2012, The by David Genders

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18

Budget measures

The main eye-catching announcements in George Osborne’s March 2012 Budget were:

  • the introduction from January 2013 of an Income Tax charge on recipients of Child Benefit with annual incomes above £50,000;
  • a freezing from April 2013 of the higher allowances for pensioners with modest incomes; and
  • a cut in the top rate of Income Tax from 50 per cent to 45 per cent – again from April 2013.

This chapter details the tax changes effective from 6 April 2012, which were:

  • in the pipeline prior to either the 2011 Autumn Statement or 2012 Budget; or
  • set out in the Autumn 2011 Statement; or
  • announced by the Chancellor in his 2012 Budget.

This is followed by a summary of proposed measures that will not take effect until 6 April 2013 ...

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