2011 Budget report

During this second budget delivered by the coalition Government the Chancellor promised that the 2011 budget would be aimed at creating the right conditions for economic recovery and leave Britain with the most competitive tax regime in the G20.

At a glance ...

  • Corporation tax reduced by 2% from April 2011 – top rate of 23% by 2014
  • Business rate relief 'holiday' extended to October 2012
  • Fuel duty cut by 1p a litre
  • Establishment of Enterprise Zones around the country
  • Further rise in personal allowance from April 2012
  • Entrepreneurs' Relief doubled to £10 million from April
  • Changes to EIS and VCT tax reliefs
  • Research and Development tax credits increased
  • Inheritance tax discounts, if you leave legacies for charity
  • Additional powers for HMRC to obtain information
  • Clamp down on tax avoidance

For further details please download the full report here (Opens a pdf 1.8Mb)

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