- West Country
- 5 updates
Chancellor George Osborne has announced plans for a total overhaul of the "badly-designed" stamp duty system paid on the purchases of homes.
The reform will mean new marginal rates that the Chancellor says will mean a stamp duty cut for 98% of homebuyers.
- No tax on first £125,000 paid
- 2% on the portion up to £250,000
- 5% up to £925,000
- 10% up to £1.5 million
- 12% on everything over that
Air Passenger Duty will be scrapped for all children by 2016, Chancellor George Osborne has announced.
"We’re going to require airlines to list the charges separately from taxes on tickets, but I also want to reduce the cost of those tickets for families directly.
"From the 1st May next year, Air Passenger Duty for children under 12 will be abolished. From the following year, we’ll get rid of APD for children under 16 altogether."
ITV News Consumer Editor Chris Choi tweeted: "Birmingham family with 2 young children welcomes cut in air passenger duty."
"They will save £170 on planned flight to Dubai."
Exeter-based Flybe has welcomed George Osbourne's announcement that air passenger duty is to be scrapped for children under 12 from next year.
As part of the Autumn Statement, the Chancellor is to announce VAT refunds for Search and Rescue and Air Ambulance charities alongside £7.5 million extra support for air ambulances.
The VAT refunds will be worth £25 million over 5 years.
It is in response to the service the UK’s Search and Rescue and Air Ambulance charities provide, volunteering their time and expertise to support to emergency services.
At the moment, most Search and Rescue and Air Ambulance charities cannot claim VAT back on their search and rescue activities but this means they will all be able to apply for VAT refunds for them as of 1 April 2015.
Latest ITV News reports
Coming less than six months before an election, it was always likely that George Osborne would include a few voter-friendly measures.