Stamp duty overhaul
- No tax on the first £125,000, 2% up to £250,000, 5% up to £925,000, 10% up to £1.5m and 12% above that. The change takes place from midnight - and replaces a previous “slab” rate
Other personal finance measures
- Personal tax allowance is rising to £10,600 next April instead of £10,500 as previously planned
- ISAs to be inherited tax free by spouses from today
Economy
- To grow 3% in 2014, higher than the 2.7% forecast in the budget
- In 2015 the forecast is 2.4%, 2.2% for 2016, 2.4% for 2017, 2.3% in 2018/9
- Inflation to hit 1.5% this year, 1.2% next year and 1.7% the year after
- Borrowing falls from £97.5bn to £91.3bn this year, and then to £75.9bn, £40.9bn, £14.5bn before reaching a surplus of £4bn in 2018/9. By 2019-20 a surplus of £23bn was forecast
Bank fines
- £1.2bn of forex bank fines for GP services
- Libor fines go to emergency services, Gurkhas, £10m for veterans with hearing problems, new helicopters and VAT refunds for search and rescue
Company taxation
- A new diverted profits tax for multinationals set at 25% on UK profits shifted out of the country. To raise £1bn over five years
- Restrictions on banks, limiting the amount of profits that can be offset by losses to 50%. To bring in extra £4bn over five years
- No employer national insurance on apprentices
Transport
- Air passenger duty for children under 12 to be abolished from May 1 and for under 16s the year after
- Fuel duty frozen, as expected
Education
- £10,000 student loans for postgraduate students doing masters degrees
Devolution
- Northern Ireland to set corporation tax
