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Guest Chelseadownunder

UK Budget info

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    Guest Chelseadownunder

    I hope you find this summary helpfull in regards the UK Budget

    We await the Australian Budget.

     

    In summary:

     

     

     

    Top income tax rate increased to 50% from April 2010

    • Applies to those earnings £150,000 or over
    • 42.5% rate on dividends
    • Highest rates also apply to trusts
    • Personal allowance reduced or eliminated for those earning over £100,000

    ISA limit increased to £10,200 a year

    • From 6 October 2009 for over-50s
    • From 6 April 2010 for everyone else
    • Cash element increased to £5,100

    Pensions tax relief restricted for those earning over £150,000

    • Basic rate relief only from April 2010 for those earnings £180,000 or over
    • Tapered rate of relief for those earning £150,000-£180,000
    • Immediate special annual allowance of £20,000 for those earning £150,000 and over

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