Inheritance tax (IHT)
There were no changes to inheritance tax.
The residence nil rate band will increase from £100,000 to £125,000 for 2018-9 as previously announced.
Stamp Duty Land Tax (SDLT)
There will be a new relief that will permanently raise the price at which a property becomes liable for SDLT to £300,000 for first-time buyers. Those claiming the relief will pay no SDLT on the first £300,000 of the consideration and 5% on any remainder. No relief will be available where the total consideration is more than £500,000.
The relief will apply to transactions with an effective date on or after 22 November 2017.
Single-use plastics waste
There will be a consultation in early 2018 on how the tax system or charges could help to reduce the amount of single-use plastic waste.