Some of the key points for money savers from the Autumn Statement:
The NISA limit is to be increased and if someone dies, the savings can be transferred tax free to a spouse.
This also applies to pension savings.
The ISA limit is up to £15,240.
Stamp duty is set to be completely reformed in order to stop some of the problems associated with this unpopular tax. Rates are as follows
98% of homeowners should see a reduction yet the most expensive houses will fall under a 12% rate. Stamp duty changes from midnight tonight - an average £4,500 saving.
Wages and tax
It was announced that the tax-free personal allowance will rise from £10,000 to £10,600 which should help those on low incomes. The Treasury claims that this is a wage boost for working people of £825 a year.
National insurance will also be abolished for young adults doing apprentiships.
Travel and Transport
Major emphasis was placed on improving road infrastucture, also rail and particularly in the north of England.
Fuel duty has been cut and frozen, which should mean a reduction in prices at the petrol pumps.
Air passenger duty for children under 12 will be abolished and in 2016 will be scrapped for all under 16s.
Graduates looking to undertake further study will now be able to apply for a student loan up to £10,000.
Business rate relief is to be doubled for another year, with rates capped at 2%. The structure of business rates will be reviewed and an increase was announced in rate discounts to help high street shops, pubs and other small businesses across the UK.
Last updated: Wednesday, 3 December 2014
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