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2010 budget news

Jonathan Winston Jonathan Winston
1 min read

The rate of capital gains tax for higher and additional rate taxpayers goes up from 18% to 28% with effect from 23 June 2010. The lifetime limit for entrepreneurs’ relief increases from £2 million to £5 million from the same date.

The main rate of corporation tax will go down from 28% to 24% over four years from April 2011, the plant and machinery rate of capital allowances will go down from 20% to 18% from April 2012 and the annual investment allowance will go down from £100,000 to £25,000 in April 2012.

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