The Pre-Budget Statement

So how will December's Pre-Budget Statement affect you? In the short term, the answer is probably 'very little' because, against a background of low or even negative inflation, income tax rates and allowances have been frozen for 2010/11 (except for people with an income over £100,000, whose personal allowances will be reduced, and over £150,000, who will be subject to the new 50% top rate of tax). National Insurance rates and bands, for employees, directors and self-employed people, will also be frozen at 2009/10 levels.

Information on the various separate points of the statement are available individually in the News section of the website.

A PDF fle containing our complete notes on the statement is available to download here.