#Budget2013: Your questions answered - Live coverage - The Independent

#Budget2013: Your questions answered

What are your concerns about the Budget? Share them here and our experts will do their best to answer them.

  • Please post your questions about yesterday's Budget announcement here, or tweet us with the hashtag #BudgetQuestions
    3/21/2013 10:08:45 AM
  • Where do my wife and I stand on all the pension changes if we reach 65 in 2017 and 2019 respectively? Apologies for the broad question but I'd be grateful for a pointer to start figuring it all out.
    3/21/2013 10:14:58 AM
  • I'll admit to being baffled about the changes designed to help house buyers. Does this apply only to new builds? How much dearer does your new home have to be than your current one? And what are the basic restrictions? We're thinking of moving to another part of the country and were aiming to buy a house at about the same price.
    3/21/2013 10:18:24 AM
  • @Independent #budgetquestions If I made use of the 5% deposit scheme. Could I buy out the government's share early?
  • I'm a fleet buyer with about 30 Focus-type cars for our sales team. Do you have any details about changes for low-emission company cars? JH Essex
    3/21/2013 12:43:28 PM
  • Q. Where do my wife and I stand on all the pension changes if we reach 65 in 2017 and 2019 respectively? Apologies for the broad question but I'd be grateful for a pointer to start figuring it all out.
    Pension Home-runner

    A. It was announced yesterday that the new single tier state pension will begin in 2016-17. The single payment is worth £144 per week in today's money. How you and your wife will be affected will depend on your current entitlement to the state pension. The broad rule is that if you’re entitled to more than the single tier payment under the current system rules you should be protected. You can check your current entitlement to state pension with the Department for Work & Pensions.
    3/21/2013 12:49:30 PM
  • I work in an estate agency. What do I need to know about the Budget changes on help with deposits? Is it going to make a change to the doldrums we've been suffering? Kent
    3/21/2013 12:49:56 PM
  • I see there will be no tax if I earn under £10,000. How much do I lose if I earn £100 over that? Does it affect my whole tax or just anything over the £10,000?
    3/21/2013 12:54:24 PM
  • Can't see the wood for the trees. How's the Budget going to help me as a small business (a print shop with me and two part-timers)?
    by SMB

    Yesterday’s Budget announced a new £2,000 allowance, aimed at small businesses, although businesses of all sizes are eligible. From 6th April 2013, all businesses will be entitled to a £2,000 employment allowance towards their employer National Insurance bill.
    3/21/2013 12:56:08 PM
  • I am 64 and currently receive a State Pension of £121 p.w. Will this increase to £144 p.w. when the new changes come into effect and, if not, will my Pension still rise each year in line with inflation?
    3/21/2013 12:56:52 PM
  • Will the grants for fracking make a big difference? I'm petrified at the though of this taking off big-time in the face of major concerns. What is on offer? FN
    by Fracking Nuisance 12:40 PM

    The new tax incentives to encourage the development of shale gas are subject to a Government consultation. It is expected the new allowance will reduce the rate of tax on shale gas production significantly, but we don’t have details of the size of the allowance. The Government has commented that UK shale gas could make a big contribution to the country’s energy needs as well helping economic growth.
    3/21/2013 1:00:33 PM
  • I am 67 and my current pension is £107.45 plus £67.82 SERPS, 2nd pension etc. When £144 flat rate comes in, do I lose these extras I have paid for and revert to £144 meaning a fall in income?
    3/21/2013 1:01:20 PM
  • Just checking: does the childcare announcement apply double for parents of twins? CK
    3/21/2013 1:01:40 PM
  • Just checking: does the childcare announcement apply double for parents of twins? CK

    The new tax relief for childcare scheme is worth up to £1,200 PER CHILD per annum so you would get double. Just remember that the changes don’t take effect until Autumn 2015.
    3/21/2013 1:06:00 PM
  • So what do you think SHOULD have been done in yesterday's Budget? Ed
    3/21/2013 1:12:37 PM
  • Q. So what do you think SHOULD have been done in yesterday's Budget? Edby Eddie B 1:12 PM

    A. It would have been good to see something on VAT. A reduction on VAT from 20% to 5% for home improvements and extensions would have encouraged activity within construction and stimulated the housing market.
    3/21/2013 1:33:45 PM
  • Q. Was anything done to help people like me (I think the term is 'long-term jobless') get back to work? FGby 1inamillion 1:18 PM

    A. Yesterday’s Budget announced a new £2,000 allowance to encourage businesses to hire new staff. From 6th April 2013, all businesses will be entitled to a £2,000 employment allowance towards their employer National Insurance bill.
    3/21/2013 1:35:36 PM
  • Time to wrap-up now folks! Thank you for all your questions, and hope to answer them again come next year's Budget!
    3/21/2013 1:38:28 PM
  • And thank you Nimesh for clearing up a wide range of queries. We're grateful and I'm sure our users want me to pass on their thanks as well.
    3/21/2013 1:38:46 PM
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