{"id":592,"date":"2012-04-18T07:01:53","date_gmt":"2012-04-18T07:01:53","guid":{"rendered":"http:\/\/my-brains.co.uk\/jackross\/jack-ross-news\/?p=592"},"modified":"2012-04-18T07:01:53","modified_gmt":"2012-04-18T07:01:53","slug":"budget-2012-your-money-highlights","status":"publish","type":"post","link":"https:\/\/my-brains.co.uk\/jackross\/budget-2012-your-money-highlights\/","title":{"rendered":"Budget 2012: your money highlights"},"content":{"rendered":"<p>Budget 2012 included a series of announcements that could affect your finances. Highlights included:<\/p>\n<ul>\n<li>The personal allowance will increase to \u00a39,205 in April 2013, putting the Government on track for its \u00a310,000 target.<\/li>\n<li>The 50% additional tax rate will reduce to 45% from 2013, after the new rate caused &#8216;massive distortions&#8217; and raised just one third of what it was forecast to.<\/li>\n<li>Age related personal allowance to be frozen \u2013 perhaps the most controversial announcement made. From 2013\/14 the availability of the age related personal allowance will be restricted. The allowance of \u00a310,500 for 2012\/13, available for those aged 65 to 74 will be restricted to individuals born after 5 April 1938 but before 6 April 1948. The age related personal allowance of \u00a310,660 for 2012\/13, available to people aged 75 and over will be restricted to those born before 6 April 1938. The allowance of \u00a310,660 will not be increased in 2013\/14.<strong><\/strong><\/li>\n<li>Child benefits \u2013 a new income tax charge is being introduced from 7 January 2013 on taxpayers who are both in receipt of child benefit and whose annual income exceeds \u00a350,000. This charge also applies if it is the partner of the taxpayer earning \u00a350,000 in a tax year who is in receipt of the child benefit. In a case where both partners earn over \u00a350,000 in a tax year, the income tax charge will only apply to the partner with the higher income. For taxpayers with income in a tax year of above \u00a360,000, the tax charge will equate to the amount of the child benefit. For those taxpayers with an income of between \u00a350,000 and \u00a360,000, the income tax charge will be 1% of the amount of child benefit for every \u00a3100 of income above \u00a350,000.<\/li>\n<\/ul>\n<p><em>These are just some of the announcements made. Please contact us if you would like more information or think that we can help you to prepare for these changes.\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Budget 2012 included a series of announcements that could affect your finances. Highlights included: The personal allowance will increase to \u00a39,205 in April 2013, putting the Government on track for its \u00a310,000 target. The 50% additional tax rate will reduce to 45% from 2013, after the new rate caused &#8216;massive distortions&#8217; and raised just one&hellip;&nbsp;<a href=\"https:\/\/my-brains.co.uk\/jackross\/budget-2012-your-money-highlights\/\" class=\"\" rel=\"bookmark\">Read More &raquo;<span class=\"screen-reader-text\">Budget 2012: your money highlights<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"neve_meta_sidebar":"","neve_meta_container":"","neve_meta_enable_content_width":"","neve_meta_content_width":0,"neve_meta_title_alignment":"","neve_meta_author_avatar":"","neve_post_elements_order":"","neve_meta_disable_header":"","neve_meta_disable_footer":"","neve_meta_disable_title":"","neve_meta_reading_time":""},"categories":[8,12],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Budget 2012: your money highlights - Manchester Chartered Accountants<\/title>\n<meta name=\"description\" content=\"Jack Ross Chartered Accountants give you highlights on the budget 2012 and your money.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/my-brains.co.uk\/jackross\/budget-2012-your-money-highlights\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Budget 2012: your money highlights - Manchester Chartered Accountants\" \/>\n<meta property=\"og:description\" content=\"Jack Ross Chartered Accountants give you highlights on the budget 2012 and your money.\" \/>\n<meta property=\"og:url\" content=\"http:\/\/my-brains.co.uk\/jackross\/budget-2012-your-money-highlights\/\" \/>\n<meta property=\"og:site_name\" content=\"Manchester Chartered Accountants\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/jackrosstax\" \/>\n<meta property=\"article:published_time\" content=\"2012-04-18T07:01:53+00:00\" \/>\n<meta name=\"author\" content=\"Jack Ross\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Jack Ross\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"http:\/\/my-brains.co.uk\/jackross\/budget-2012-your-money-highlights\/#article\",\"isPartOf\":{\"@id\":\"http:\/\/my-brains.co.uk\/jackross\/budget-2012-your-money-highlights\/\"},\"author\":{\"name\":\"Jack Ross\",\"@id\":\"http:\/\/my-brains.co.uk\/jackross\/#\/schema\/person\/d65ae99f63f346e53c611cb62a38c818\"},\"headline\":\"Budget 2012: your money highlights\",\"datePublished\":\"2012-04-18T07:01:53+00:00\",\"dateModified\":\"2012-04-18T07:01:53+00:00\",\"mainEntityOfPage\":{\"@id\":\"http:\/\/my-brains.co.uk\/jackross\/budget-2012-your-money-highlights\/\"},\"wordCount\":288,\"publisher\":{\"@id\":\"http:\/\/my-brains.co.uk\/jackross\/#organization\"},\"articleSection\":[\"Budget\",\"Wealth Management\"],\"inLanguage\":\"en-GB\"},{\"@type\":\"WebPage\",\"@id\":\"http:\/\/my-brains.co.uk\/jackross\/budget-2012-your-money-highlights\/\",\"url\":\"http:\/\/my-brains.co.uk\/jackross\/budget-2012-your-money-highlights\/\",\"name\":\"Budget 2012: your money highlights - Manchester Chartered Accountants\",\"isPartOf\":{\"@id\":\"http:\/\/my-brains.co.uk\/jackross\/#website\"},\"datePublished\":\"2012-04-18T07:01:53+00:00\",\"dateModified\":\"2012-04-18T07:01:53+00:00\",\"description\":\"Jack Ross Chartered Accountants give you highlights on the budget 2012 and your money.\",\"breadcrumb\":{\"@id\":\"http:\/\/my-brains.co.uk\/jackross\/budget-2012-your-money-highlights\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"http:\/\/my-brains.co.uk\/jackross\/budget-2012-your-money-highlights\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"http:\/\/my-brains.co.uk\/jackross\/budget-2012-your-money-highlights\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"http:\/\/my-brains.co.uk\/jackross\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Budget 2012: your money highlights\"}]},{\"@type\":\"WebSite\",\"@id\":\"http:\/\/my-brains.co.uk\/jackross\/#website\",\"url\":\"http:\/\/my-brains.co.uk\/jackross\/\",\"name\":\"Jack Ross Chartered Accountants Manchester\",\"description\":\"Manchester Accountants &amp; 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