BUDGET 2008 (12/03/08).jpg)
Alistair Darling delivered his first full budget today, with a focus on environmental issues, public spending and child poverty.
Although pulling few punches, there were some key points announced which will affect both the ordinary consumer and the businessman.
These include:
* Increase in thresholds and allowances
- personal allowance £5,435
- higher rate tax at taxable income more than £36,000
- Capital Gains Tax exemption £9,600
- VAT registration £67,000
* Fuel duty rise postponed until October
* Child tax credits increased
* New Capital Gains tax regime confirmed
* Small firms loan guarantee scheme to be extended
* Enterprise Investment Scheme limit increased to £500,000
* Employee Share Incentive Scheme limit increased to £120,000
* New non domicile regime confirmed but changes in the detailed rules – see our detailed analysis
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