Budget 2005 - March 2005

Gordon Brown’s ninth and possibly final Budget, will leave the majority of people feeling no better or worse off.

The main focus of the Budget was property with a doubling of the Stamp Duty Land Tax thresholds to £120,000, which could assist the first time buyers in our region. He has however ended the relief for commercial property in disadvantaged areas. The net effect to tax revenues of the above will probably be neutral.

Inheritance Tax thresholds will be raised to £300,000 by April 2007, with the first step being an increase from April this year to £275,000.

There was good news for savers with an extension to 2010 of the ISA £7,000 per annum investment levels.

Pensioners were not left out with some support for council tax bills (£200) and free bus travel for all.

The following links lead to commentary on various aspects of the 2005 Budget:-

• Budget 2005
• Tax Tables 2005

To see more articles, see these pages:

• latest news
• knowledge base