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BUDGET 2014 AT A GLANCE [...].

BUDGET 2014 AT A GLANCE PERSONAL T? Personal tax allowance to be raised to PS10,500 next year; PS800 average savings ? Higher rate threshold for 40p income tax to rise from PS41,450 to PS41,865 next month and then by further one per cent to PS42,285 next year ? Transferable tax allowance for married couples to rise to PS1,050 T? 15 per cent stamp duty on homes worth more than PS500,000 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 ? Fuel duty rise planned for September cancelled PENSIONS/SAVINGS ? All tax restrictions on pensioners' access to pension pots removed and tax on cash removed on retirement cut from 55 per cent to 20 per cent ? Abolition of 10p starting rate of tax on income from savings ENERGY ? PS7 billion package to cut energy bills ? Compensation scheme for energy intensive industries extended to 2019/20; PS1 billion to protect manufacturers from cost of green levies LEISURE ? Tobacco duty to rise by two per cent above inflation ? Duty on spirits and ordinary cider frozen. Beer duty cut by 1p a pint ? Duty on fixed-odds betting terminals increased to 25 per cent ? Bingo duty halved to 10 per cent.
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Publication:Birmingham Mail (England)
Date:Mar 20, 2014
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