Personal taxation

publication date: Mar 25, 2010

The 50% rate of income tax, the tapering of personal allowances for income in excess of £100,000 and the restrictions on pension relief are still set for 2010/2011.  For those earning in excess of £150,000 there remains only a small window of opportunity before April 2010 to bring forward income to 2009/2010 so that it can be taxed at 40%.

A subtle freeze in the inheritance tax nil rate band of £325,000 for 4 years now, contrasts starkly with the Conservative’s proposal to increase the threshold to £1,000,000.