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1:27	Hi this is Richard Laverick - now the chancellor has sat down we should be ready to provide initial thoughts and comments on the Budget

1:29	Key things that changed from November affecting person tax payers are the rate change for those earning over £100,000 from 45% to 50% and removal of the personal allowance benefit - any body concerned?

1:30	A heavily trailed removal of higher rate tax relief for those earning over £150,000, tapering down beyond this

1:32	Useful increases to ISA limits £10,200 from today (but only for the over 50's) - from next year for those fortunate enough to be under 50

1:33	VAT reduction continues to December - not sure what happens in the January sales?

1:36	Useful boosts for business include loss carry back of 3 years exnded by another year, Capital Allowance relief increased to 40% for this year and plans for a 'top-up' scheme for credit insurance

1:47	[Comment From Ali Mac] Do you think most people earning £100K plus are still foolish enough to not be Ltd status, like many MP's. Will this not just affect a small number of people who for whatever reason have failed to seek tax advice.

1:48	I'd certainly agree that it is more likely that individuals earning over £100k will be more likely to seek advice - if they haven't already - to minimise the effect of this increase than they have in the past - therefore whether it raises what the Goverment think is a moot point

1:50	On the housing side hopefully the extension to the year end of the stamp duty exemption upto £175,000 will be useful if the market does pick up

1:51	[Comment From Ali Mac] Thanks for your response. What do you think about the governments tax credit system. Does it not seem like far to many departments to achieve a simple task.

1:51	[Comment From Ali Mac] Cont. The government could simply adjust the tax code and tax free allowance to achieve the same result on an ongoing basis. Saving billions in processing costs to return millions.

1:55

It is a complicated system as we see from the fact that they seem to overpay then claw back a significant number each year - I suspect this will only get worse this year given the fact that you would expect more job changes/lifestyle changes this year.

The Government could certainly get close - but I suspect would argue wouldn't be so precise - with simpler measures

1:55	[Comment From BenW] HI Richard, looking across the media everyone is flagging the 50% tax rate.

1:58	That is the big headline number and thererfore not a great suprise - it does however only apply to those earning over £100,000 - so the vast majority of current higher rate tax payers will I guess remain at 40%, redefined as 'middle rate' taxpayers?

2:01	Just reading through some of the detail on the treasury website the following jumped out This Budget includes measures to tackle evasion, including the publication of the names of deliberate tax defaulters It will be interesting to see how this naming and shaming will go down

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