Summer Budget 2015 special
20% – Buy-to-Let tax relief will be gradually reduced to the basic rate of income tax over the four-year period from April 2017.
£12bn – The amount Chancellor George Osborne said will be saved through welfare cuts.
£10bn – The surplus that the Chancellor is targeting by 2019/20.
18% – The level at which the Government intends to set Corporation Tax in 2020, compared with 20% currently.
2.4% – The amount by which the Office of Budget Responsibility says the UK will grow this year – down from its original estimate of 2.5% .
6 years – The period over which the Government will gradually reduce the bank levy until it is scrapped. However, an 8% surcharge on bank profits will replace the levy from 1st January 2016.
£7,500 – The increased amount of tax-free rent that an individual can receive through letting rooms in their home, up from £4,250.
£9.00 – The new hourly ‘living wage’ that the Government plans to introduce by the end of the current parliament.
