Income tax personal tax allowance for under 65s is set to increase by £1,000 to £7,475 in 2011/12. The basic rate band and the upper earnings/profits limits for NICs will reduce.
NICs - All Class 4 and Class 1 rates will increase by 1%. The lower profits limit and the primary and secondary thresholds will rise.
Corporation Tax main rate will be reduced to 27% for the year to 31 March 2012, reducing at 1% per annum to 24% by 1 April 2014. The small profits rate will be reduced to 20% from 1 April 2011.
Capital Allowances - from April 2012 AIA reduces to £25,000, 20% rate reduces to 18% and 10% rate reduces to 8%. | 
