Budget: IHT threshold up, VCT relief

The level at which IHT kicks in will rise to £263,000, while the rate of the tax remains unchanged. Venture capital trusts will benefit for extension of relief over the next two years. This will provide relief at the higher rate of 40% while the amount on which the relief will be provided rises to £200,000. Firms with turnover below £58,000 will not be required to pay VAT. A raft of other taxes have been frozen at current rates. Corporation and capital gains taxes rates will not change. Ditto insurance premium tax, the climate level, the aggregates levy, betting tax, stamp...