This year there were over 90 supporting notes with the Budget, demonstrating how many changes need consideration. The most eye-catching of these were:

• A new 50% rate of income tax on income over £150,000 from 2010/11.
• The phasing out of personal allowances for those with income over £100,000, again from 2010/11.
• Restrictions on higher rate income tax relief for pension contributions for people with income over £150,000.
• A temporary 40% first year capital allowance for businesses.
• An increase in the ISA contribution limit to £10,200, (up to £5,100 can be saved in cash) - Restricted to people aged 50 or over.
• Capital Gains annual exemption amount for individuals is £10,100 (and for most trustees £5,050)

We hope that this summary proves useful and, if any of the areas discussed seem likely to have an impact on your personal or corporate plans, we would urge you to contact us so that we can help you.