Yesterday, the Chancellor announced the 2012 Budget. There were some major reforms announced, particularly in regard to corporation tax and changes to capital allowances, and there were future changes unveiled in regard to income taxes. There was, however, very little announced in relation to VAT.
Arguably, Stamp Duty Land Tax (SDLT) saw the greatest number of changes. The introduction of a widely-predicted higher rate of SDLT will affect both residential and commercial property. In addition to this, we saw an announcement on anti-avoidance measures, intended to stop people transferring high value properties into companies to avoid SDLT.
To find out in more detail how these Budget announcements may affect you, please read the full publication.