Levy to be reduced over six years and after that no longer apply to worldwide balance sheets. New 8% surcharge on profits.
Insurance premium tax to be raised to 9.5%. Review to be conducted of regulation of claims management companies.
Maintenance grants to end from 2016/17 replaced with loans repaid once salary reaches more than £20,000.
Green paper on reform of pensions.
New tax-free allowance of £5,000.
Set at £200,000 rather than falling to £25,000 at the end of the year.
Cut to 19% in 2017 and 18% in 2020.
Personal allowance raised to £11,000 from next year. Higher rate tax threshold raised from £42,385 to £43,000 next year.