Budget 2012: Personal tax relief capped but 5p income tax fillip

TODAY’S Budget confirmed what many expected in terms of measures for personal tax, savings and wealth, and although there were a raft of measures to hit the better-off, a fillip was found by cutting the 50p income tax rate by 5p.

From April 2013 the higher rate of income tax will be reduced to 45p.

The Chancellor said Britain’s tax rate is the “highest in the G20” and added that it is widely regarded by business organisations to be harming the economy.

He said that the current 50p high... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...