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  Budget 2003
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Main Budget announcements 2003

Income Tax
There were no changes to the income tax rates.

Inheritance Tax
Inheritance tax threshold has risen to £255,000 (2002/03 - £250,000).

Registration limits have increased to £56,000

Corporation Tax
There has been no change to company tax rates

Computer equipment
First year allowances for small businesses buying information and computer technology of 100% have been extended for another year

Car Tax
Tax on vans and cars is to rise by £5 in May (frozen for lorries and motorcycles).

Alcohol duty
Beer - up 1p a pint
Bottle of wine - up 4p
There is no increase for spirits and cider

Packet of 20 - Increase of 8p a packet

Trust funds will be set up for every child born since September 2002, with an initial endowment of between £250 - £500

Winter fuel allowance for pensioners will increase from £200 to £300 a year

These details are provided based upon an initial appraisal of information made available by H M Treasury. This is for information purposes only, and Numis Limited cannot be held responsible if the figures are relied upon.

© 2004 Numis Ltd. 1st Floor, Brook House, Mount Pleasant, Crowborough, East Sussex. TN6 2NE.
Telephone: 01892 664020   Fax: 01892 664120