Budget 2012 Report

Bevan & Buckland AccountantsThis Report, written immediately after the Chancellor of the Exchequer delivered his Budget Speech, provides an overview of the announcements most likely to affect you and your business.

This Budget was heralded as a Budget for economic stability, tax simplification and growth, but was set against a relatively benign economy that is endeavouring to break out of the constraints of reductions in public expenditure coupled with lower household disposable income and growing job insecurity. With little room for manoeuvre the Chancellor’s aim was to balance the books while making strategic advance toward promoting business growth and the ongoing reduction of the public purse.

The last year has provided yet further evidence of our interdependence on the global economy and the impact of events beyond our shores continue to provide a challenge to business confidence.

The politics of the coalition Government continue to influence policy decisions and the need to satisfy the constituents in the two political parties are evident in some of today’s announcements.

The Budget announces the Government’s budgetary plans and this serves as a reminder to us all that we should ensure that our personal and business budgets and plans reflect the reality of our available income and necessary expenditure. Debt remains embedded in our economy and the obligation to repay must be balanced with the need to save and invest.

We can help you review your plans; adapting them as necessary to take into account the ongoing challenging economic environment and your own personal circumstances, plans and objectives.


  • Please read the Report as soon as possible 
  • Contact us to discuss any action you may be considering, and to review your longer term plans. We always welcome the opportunity to advise.

The Report is generally based on Press Releases and Reports issued immediately after the Budget on 21 March 2012. These proposals may be amended. Professional advice should be obtained before acting on any information contained herein. No responsibility can be accepted as a result of action taken or refrained from in consequence of the contents of this Report. 

Economic and fiscal update
A summary of the economic backdrop to this year’s Budget.

A summary of the Budget announcements that could affect your business.
A summary of the Budget announcements that could affect your finances.
A summary of VAT and other indirect tax changes made in the Budget.
Details of vehicle taxation announcements made in the Budget.
Other announcements made in Budget 2012.
A summary of the 2012/13 Tax rates and allowances

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