Budget 2015: the headlines
In his final Budget before the general election, Chancellor
George Osborne set out plans to abolish tax returns, help savers and
improve mental health care for women and children.
Have a look at the headline announcements below - we'll update
the details once more information is released.
A new personal savings allowance means people will be able to save
£1,000 without paying tax.
A rise in income tax allowance
Personal tax-free allowance will rise to £10,600 from
April and then to £11,000 in 2017. The
higher rate threshold will rise above inflation by 2017-18.
The end of tax returns
There will be a "revolutionary simplification of tax collection"; annual
tax returns are abolished, as are Class 2 national insurance
contributions for the self-employed.
Extra funding for mental health services
Spending over the next five years will increase, so that
more children receive mental health care; care for women who
experience mental health difficulties during pregnancy will also be
Help for parents of disabled children
The budget doubled the maximum amount of money that parents of disabled children
can receive to help pay for childcare costs - increasing to
£4,000 per child, per year.
National Minimum Wage to increase
The minimum wage will rise, and will top £8 by the end
of the decade; the apprentice rate has also risen significantly.
ISAs for first-time buyers
The introduction of new Help to Buy ISAs aimed at helping those trying
to get on the housing ladder. For every £200 saved, the government
will top up with another £50. There will also be more
flexible ISAs available to all.
A new 12-sided pound coin will be released
It will feature a rose, thistle, leek and shamrock - emblems of the four UK
Superfast broadband for all
Ultra-fast broadband is to be expanded to almost all homes across the
Lifetime pension relief allowance to be cut
Down from £1.25m to £1m; it's thought that fewer
than 4% of pension savers currently approaching retirement will be affected
by the cut.
Cracking down on tax avoidance - including inheritance tax
A review will take place into the avoidance of inheritance tax through the
use of deeds of variation.
The cost of filling up your car will remain the same
The increase on fuel duty scheduled for later this year has
And finally, cheaper pints
Beer duty is to be cut by 1p a pint, while cider and Scotch whisky duty is
cut by 2%.