Budget 2010 - a non event for contractors

In the end, Budget 2010 turned out to be of little interest to the contracting industry in particular.

There were not changes announced to VAT, Corporation Tax, Income Tax or CGT.

We already know about the new 50% income tax rates on incomes about £150,000 from April 6th, and the stepped erosion the personal allowance by £1 for every £2 you earn above the £100,000 mark.

The ISA limit will be £10,200 - half of which can be held in cash.

There is no stamp duty to pay or first time buyers on property below £250,000 (funded by a new 5% rate on homes costing £1m or more).

The inheritance tax allowance will be frozen at £325,000 until 2014-15.

You can read a handy summary of the main business announcements at Bytestart, and more comprehensive coverage from the BBC.