23 December 2009
The Pre-Budget Report 2009
Hull Solicitors, Myer Wolff, provide an overview of some of the key announcements of the recent pre-budget report:
- The price at which Stamp Duty Land Tax becomes payable on the purchase of a property will return to £125,000 on 1st January 2010, from its current level of £175,000.
- The Inheritance Tax nil-rate will be unchanged during 2010. It will remain at its present level of £325,000.
- The VAT rate will return to 17.5% on 1st January 2010.
- All national insurance rates will rise by a further 0.5% from April 2011.
- There will be a one off 50% tax on bankers bonuses that exceed £25,000.
- The basic state pension will rise by 2.5% in April 2010.
- Child and disability benefit will also rise by 1.5% in April 2010.
If you wish to discuss any of the above points with us and how they may affect you, please contact us on (01482) 223693 or e-mail info@myer-wolff.co.uk