Chancellor Sets Date for Budget 2012 - 21st March 2012

The date for the 2012 Budget has been set by Chancellor George Osborne as the 21st March 2012.

The Budget Red Briefcase

The Chancellor is expected to confirm many of the changes already outlined in the draft legislation of the Finance Bill 2012.

As is normal practice at such occasions; tax rates, allowances and other special measures will be confirmed for the year ahead. Many of these will be disclosed for the first time on the day itself, however, more specific areas such as inheritance tax incentives for charitable donations have already been released for consultation as draft legislation.  

George Osborne will also give a fiscal and economic update based on the latest report from the Office for Budget Responsibility (OBR).

It is likely that the Budget 2012 will reinforce the measures outlined last month in the Autumn Statement which attempted to re-invigorate the economy. The focus is likely to be on giving SMEs greater access to credit and to reduce their cost of borrowing. It will be interesting for all to see whether the measures imposed in the Autumn Statement have begun to achieve their objectives.

For more information on your own business or personal tax issues, contact Tim Adcock on tel: 0151 255 2300 or complete a quick enquiry form.

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