By Sally Jones, Tax director
Key measures of general interest
Unusually, the single biggest revenue raising announcement has
nothing to do with taxation - it's the sale of 4G bandwidth,
which is expected to add £3.5bn to the Exchequer's
coffers in 2012/13. That one measure accounts for almost 90% of the
forecast revenue increases for the current year.
£5bn more tax is to be collected from Swiss bank accounts
held by UK residents over the next 5 years. It will go some way
towards paying for: the increase in the 100% annual investment
allowance for plant & machinery to £250k from January for
the next two years; the cancellation of the 3p increase in fuel
duty that had been scheduled for January but which has now been
scrapped; and the increase to the personal allowance by £235
to £9,440 in 2013/14.
