• Annual Investment Allowance at 100% is to be extended to expenditure on the first £100,000 of qualifying expenditure from April 2010. (it was previously £50,000).
• Entrepreneurs relief limit will be doubled to £2 million for disposals after 5th April 2010. (this gives an effective rate of 10% on qulaifying gains)
• Family and owner managed companies (close companies) will no longer be able to claim a tax write off on loans made to participators (generally shareholders and connected persons).
• The Inheritance Tax nil rate band threshold of £325,000 is to frozen until 2014/15.
• Personal tax allowance (2009/10) of £6,475 will remain the same for 2010/11. The basic rate limit of £37,400 will also not change. The personal allowance will be reduced by 1 for every 2 of net income above 100,000. So taxapayers with adjusted net income above 112,950 will receive no persoanl allowance in 2010/11.
• 2010/11 new rate of 50% to apply to taxable income above £150,000. New dividend rate of 42.5% will apply for dividend income above £150,000.

From 1st April 2010, new VAT registrations and existing businesses with a turnover exceeding £100,000 are required to file VAT returns, EC Sales Lists and also pay VAT electronically.

Registration level from 1st April 2010 is increased to £70,000 (previously £68,000)