United Kingdom — Budget 2012
Key highlights of the UK Budget announced on 21 March 2012 include:
- A reduction in the top rate of tax to 45%,
- The introduction of a General Anti-Avoidance Rule,
- Measures to restrict the funding of pensions for family members,
- Abolition of “ordinary residence” for tax purposes.
All these are expected to take effect from 6th April 2013.