The Budget on the 24th March was Alistair Darling's last before the General Election scheduled for Thursday the 6th May. His challenge was to find a balance between supporting the nations economic recovery and reducing the deficit.

Here are some of the areas that may affect you

A 3p rise in fuel duty will be phased in between now and January 2011 - it is now even more important to ensure you claim your business expenses. If you are an employee of Crest Plus Exchange you can download expense claim forms and our expenses policy from the Members Log In Section and if you are self employed discuss what expenses you can claim at the end of the year with an Accountant. Crest Plus are able to make available the services of Independent Accountancy Providers to any individual subcontractors if they so choose.

The Income Tax rates and bands for income up to £150,000 remained the same; however, income above £150,000 will be subjected to the new 50% top rate.

First time buyers will be exempt from Stamp Duty on the purchase of properties up to £250,000 between 25/03/10 and 25/03/12 that they intend to occupy as their main or only home. A higher rate of 5% will apply to residential properties exceeding £1million. If you need copies of your payslips or pay advice to support mortgage applications go to the Members Log In Section.

There were increases in duty on both Alcohol and Tobacco from the 29th March. Neither alcohol nor tobacco can be claimed under our expenses policy as they are not business expenses essential for you to carry out the assigned role.

There will be an increase in the National Minimum Wage rates from 01/10/10, and 21 year olds will be included in the main adult rate which will rise from the current £5.80 to £5.93. An enforcement team has also been created to crack down on employers who fail to pay employees at the correct rates.

Online VAT services - Those with a turnover of over £100,000 on the 31st December will have been contacted by HMRC and issued with instructions. Further information on how to submit and pay online can be found on the HMRC website and the VAT section.

The 2010 ISA limit was raised to £10,200 from the 6th April 2010, up to £5,100 can be saved in cash. If you don't already have an ISA you can speak to your bank or shop around for the best available rates using comparison sites such as moneysavingexpert or moneysupermarket.

For further information about the Budget visit HM Treasury's website:
http://www.hm-treasury.gov.uk/budget2010.htm