I built a gaming PC last year:
I3 3220
Gtx 650ti
8gb ddr3 1600
Corsair 430w psu
Asus p8b75-m lx plus motherboard
Could anyone recommend upgrades for a budget of around £500?
what's the purpose of the upgrade? what do you want it to be able to do?
Better performance/gaming
you could try to sell that old pc and then build a new one, or scavenge a case, psu, hdd and ram from your old system and get something like this: http://uk.pcpartpicker.com/p/3c5Zf
or if you have a tiny case that can't fit that big gpu inside: http://uk.pcpartpicker.com/p/3c62O
i hope i helped :)
You can really upgrade all of it if you have the budget. I would especially upgrade that 650 ti to at least a 750 ti, as well as the i3 to and i5 maybe a 4570 or a 4670k all for around 450 pounds. As well, you could upgrade the motherboard to something like an ASRock Z75 Pro3 for around 50 or so pounds.
Well with the way games are going and the fact that you have a decent amount of money to work with, I would just upgrade that to an i7 4770k. The reason for that is that the games that you'll run a few years from now are likely to take advantage of the extra threads and it will be a massive improve over the i5 in productivity applications. The cpu + motherboard should cost you a maximum of 320, which leaves you with about 180 for a GTX 760.
However, my only problem with this is the fact that I don't think 430W can handle a GTX 760 + 4770k.
games don't use hyperthreading currently....
I would say that you're probably going to see the biggest gains by upgrading the CPU to an i5-3570 and using whatever you have left to buy the most capable graphics card you can afford. You don't have a bad MB, but I wouldn't recommend trying to overclock on it, hence, I'm not recommending an unlocked (K) processor. You have plenty of RAM for gaming. If you buy a higher end graphics card (or really any card) I would advise you to use a wattage calculator to see how much power you'll need. You MIGHT be able to keep your current power supply.
Sorry I'm not being specific, but I'm not good at finding things in other currencies.
+1.