What was the best bit of news in the UK Budget 2012?
Tax-free personal allowance increased to £9,205 from April 2013 and 50p tax rate to be reduced to 45p from April 2013.
Corporation tax will be cut to 24% from April 2012. The 2% reduction is double what was originally announced last year. The rate will fall to 22% by 2014.
Relaxation of Sunday trading laws on eight Sundays from 22 July 2012 during the Olympics and Paralympics
Funding for ‘ultra-fast’ broadband and wi-fi in 10 of the UK’s largest cities – Belfast, Birmingham, Bradford, Bristol, Cardiff, Edinburgh, Leeds, Manchester, Newcastle and London
Simplified tax system to be introduced for small firms. Under the plans, firms with a turnover of up to £77,000 will be taxed based on the cash that passes through their businesses
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