The Capital Taxes item in yesterday's Budget At A Glance should have read:" Capital Gains Tax reduced from 40 per cent to 20 per cent on the disposal of assets, such as non-residential development land, still subject to 40 per cent rate."

An exemption from CGT applies for an individual aged 55 or more on the disposal of business assets owned for 10 years or more. A disposal of assets to a child of the individual is relieved in full. The limit for CGT retirement relief for businesses sold outside the immediate family is increased from £250,000 to £375,000.

Also, in the "Calculate Your Tax Liability" table, the extra credits available to a one-person family should have read £4,700 for a single person and £3,700 in the case of a widowed person.