2010 Budget Statement

Items from the Chancellor’s Budget statement of 24 March 2010

the Stamp Duty limit for first-time buyers will be raised from £125,000 to £250,000 for this year and next
a new 5 per cent rate of stamp duty for transactions over £1 million from April 2011
a freeze on the threshold for inheritance tax at the present rate of £325,000 until 2014-15
the 50 per cent rate of income tax will come in next month, but only affects those with earnings over £150,000 a year
there are no further changes to VAT, Income Tax or National Insurance rates
consumers will be given a new right to a basic bank account
from April 2010 the annual ISA limit will be raised from £7,200 to £10,200
ISA limits will increase annually with inflation