It was a bit of a mixed bag when Chancellor George Osborne announced the details of his eighth Budget.
While there were a few sweeteners with the new Lifetime ISA and the capital gains tax cut, he hit our pockets with the sugar tax and a further increase in insurance premium tax.
These are the key points and what they mean to you.
- Higher income tax allowances
The amount you can earn before you pay income tax is increasing in April 2017 to £11,500 (£11,000 in 2016/17) with the higher rate tax threshold increasing from £43,000 in 2016/17 to £45,000 in April 2017.
If you're a basic rate taxpayer this increase will put an extra £100 in your pocket.
- New sharing economy tax allowances
The Chancellor also announced two new tax-free allowances of £1,000 from April 2017 - one for selling goods or providing services and the other for income from property you own. This will be good news if you earn less than this amount renting out a room in your house through a website such as Airbnb, selling goods on Etsy and eBay or providing services such as a lift or a loan of your power tools.
If you make money in this way, each of the allowances could cut your tax bill by up to £200 a year.
- Capital gains tax cut
Make a profit on anything you sell from April 2016 and you could benefit from a lower capital gains tax. The rates, currently standing at 18% and 28% for basic and higher rate tax payers, will be slashed to 10% and 20% respectively.
There is however an important exception - residential property. It doesn't apply on your main home but if you're a buy-to-let landlord or you have a holiday home, you'll still be hit with the old, higher, rates when you sell these properties.
- ISA allowance increase
From April 2017, the ISA allowance will increase form £15,240 to £20,000 a year.
- Lifetime ISA
Also from April 2017, anyone aged 18 to 40 will be able to save up to £4,000 a year into a new Lifetime ISA until they're 50 and receive a 25% bonus from the government. These savings will be earmarked for retirement income once you reach age 60 or to help you buy your first home.
- Savings scheme for low-paid workers
A new savings scheme, Help to Save, was also unveiled in the Budget. Available for employees on in-work benefits, if they save £50 a month they will receive a bonus of 50% after two years. This could be worth up to £600. Continue for another two years and they'll get a further £600.
For anyone on in-work benefits and able to save, this could be worth up to £1,200 over four years.
- Insurance premium tax increase
After bumping up the tax we all pay on short-term insurances such as our home, car and medical insurance from 6% to 9.5% last November, Osborne slapped another half a percentage point on, taking it to 10%. This, he said, would be spent on flood defences.
The good news is the tax doesn't apply to long-term insurances such as income protection or critical illness insurance. But, as this will bump up the cost of other forms of cover, make sure you shop around for a better deal at renewal.
- New sugar tax
From April 2018, soft drinks companies will pay a levy on drinks with added sugar. This will apply to drinks with more than 5g of sugar per 100ml, but not milk-based or fruit juices. The money raised - £520m a year - will be spent on primary school sport.
This will probably mean an increase in the price of a can of pop, but perhaps that's a good thing!
- Fuel duty freeze
This will be frozen again this year, making it the sixth year in a row it's not moved and saving the average motorist £75 a year.