Budget 2010: What it means for you 24 March 2010 at 7:10PM in Cutting tax 21 replies 3.5K views

Former_MSE_Guy

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Budget 2010: What it means for you

Old_Wrinkly

From April 2011, the tax-free Isa savings limits will rise each year in line with the Retail Prices Index (RPI) inflation measure, which includes housing costs.

However, this is not a permanent change as the Government says it will remain in place for "the whole of the next Parliament".

What makes the present government think they will remain in place for "the whole of the next Parliament", and hence be in a position to decide things ...

robsmg

Old_Wrinkly wrote: »

What makes the present government think they will remain in place for "the whole of the next Parliament", and hence be in a position to decide things ...

they don't but even the conservatives won't get rid of it, it's a vote winner.

Catscribe

I know its a long-shot but... do you think there'll be anyway of those first time buyers who purchased between 1 Jan and today getting back the stamp duty they had to pay during this short period the threshold dropped back down?

I expect I know what my answer will be... and I know the way I'll be making myself heard - by talking with my vote.

enigma167

We have a small hair salon and the last 18 months have been a real struggle! I'm not holding out for much hope but I am trying to find out exactly what the small business rates relief criteria is.

Can anyone help??

paddypaws101

Can anyone tell me if the vat threshold has moved...and to what?

enigma167

vat remains the same unfortunately!!

ex-dmp

Vat registration threshold moves from £68000 to £70000 and deregistration from £66000 to £68000.

What the budget means to me?
Don't know is the answer, a lot of stuff doesn't make the media headline or the budget speech for that matter, so a case of wait and see.
I had a very quick look at some of the budget doc's (get bored after a while) there is a lot of small print and gottchas around

As regards to fuel duty rises which is going up 3 times before april 2011 and then a penny every year until at least 2014, IIRC you have to remember add vat on top of the fuel duty, so the effect is harder on your pocket that it first seems.

Also can't see anywhere a 2p a litre reduction which darling put on to offset the temp reduction in vat.

Ann26

With the tax free allowances frozen for 2010 the rise in pension of £2.40 a week is reduced to 40p as because of a small private pension my husband will pay an extra £2 a week tax (£104 ) which is more than the extra fuel allowance pensioners received last winter

CPJames19

What happened to help for Married couples?

ex-dmp

My house is currently on the market, but there are not many moves happening in my area so I thought the temp stamp duty reduction may help here, but having just had a discussion with my estate agent it would seem that it won't make much difference as the main problem is getting the mortgage in the first place.

Also a strict definition of "first term buyer" is being applied, my agent mentioned that a lot of his "first time buyers" are in fact returners to the market, so these people are disqualified.

I found tucked away here: can't seem to post a link here! (look on hmrc gov uk website under budget 2010 sdlt-qa-tech-1545 pdf)
a doc that defines first time buyer, so it seems if you (or your partner) has had ANY interest in a property ANY where in the world you are disqualified.

Another question what is classed as a property, it has been suggested elsewhere even houseboats and some types of caravans count

See what I mean about small print!