2013 Budget tax announcements at a glance

Chancellor George Osborne has today delivered the 2013 Budget. Here are some of the key points in respect of tax:

Income Tax

  • From April 2013 the personal allowance will increase to £9,440
  • By April 2014 the personal allowance will increase to £10,000

 

Capital Gains Tax (CGT)and Inheritance Tax

  • Annual Exempt amount shall rise to £11,000 in April 2014, and to £11,100 in April 2015
  • Extension to the CGT holiday for SEIS regime
  • Freeze on IHT nil rate band of £325,000 extended until 2017/2018

 

Stamp Duty

  • No change to stamp duty on residential property purchases

 

If you require advice in respect of income tax, capital gains tax, inheritance tax, or general tax planning, contact one of the specialist tax advisors at Wilson Nesbitt by calling 0800 840 9288.