The document summarizes key tax changes in the UK's Finance Act of 2011. It notes that the personal tax allowance was increased but begins to decrease for annual net incomes over £114,950. The basic tax rate band was reduced to £35,000 and more people became higher rate taxpayers. In 2012/13, the personal allowance was increased to £8,105 but the basic rate band decreased slightly and the higher rate threshold remained unchanged. The long-term goal is for the personal allowance to reach £10,000 but no other details were provided.