From April 2011 the amount of higher-rate and additional-rate income tax relief will be restricted for new entrants to childcare voucher salary sacrifice schemes.
The nil-rate band remains at the 2009–10 level of £325,000 and will remain at that level up to and including the 2014–15 tax year.
The tax-free allowance for 2011–12 has not yet been announced.
The individual savings account (ISA) limit increases to £10,680 (£5,340 for the cash ISA) from 6 April 2011.
For first-time buyers only, the nil-rate threshold for stamp duty has been increased to £250,000 for a period of two years from 25 March 2010 to 24 March 2012 inclusive.
The arrangements allowing small businesses to request extra time to pay their taxes (Business Payment Support Service) are to continue for now.
The child element of child tax credit (CTC) will rise by £255 to £2,555 per year.
The lifetime limit for pension benefits and savings remains at £1.8 million in 2011–12 but will be reduced to £1.5 million for 2012–13.
In 2011–12, the personal allowance for people under age 65 will rise by £1,000 to £7,475.
In 2010, the election of a new government after the first Budget, and the continuing fallout from the global financial crisis, led to two Budgets and three finance acts being enacted.
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