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• Introduction of new levy on banks to raise £2bn annually
• Rise in the headline capital gains tax rate to 28% with immediate effect, but softened by an equally immediate increase in entrepreneur’s relief to £5m
• Rise in the headline rate of VAT to 20% from 4 January, but softened by no extension of the tax base to food, children’s clothing or the like
• Rise in the personal income tax allowance, but negatived for higher earners by the freezing of the higher rate thresholds and curtailment of pension reliefs previously announced
• Retention of the favourable treatment of furnished holiday lettings, including for those letting out properties outside the UK (but in the EEA)
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