George Osborne has just delivered his Budget for 2014, here are the tax changes in brief:
- Personal tax allowance to be raised to £10,500 next year; £800 average savings.
- Higher rate threshold for 40p income tax to rise from £41,450 to £41,865 next month and then by further 1% to £42,285 next year; increase in personal allowance passed on to higher rate taxpayers.
- Transferable tax allowance for married couples to rise to £1,050.
- Tax on homes owned through companies to be extended from homes worth more than £2 million to those worth more than £500,000.
- 15% stamp duty on homes worth more than £500,000 bought through companies.
- Inheritance tax waived for emergency services personnel who "give their lives protecting us".
- VAT waived on fuel for air ambulances and inshore rescue boats.