Autumn Statement Tax Announcements

14th December 2012

Chancellor helps UK business.
In his 2012 Autumn Statement Chancellor George Osbourne announced a raft of tax measures to help UK businesses steer through the current recession:

Initiatives of particular help included:

  • Increasing the Annual Investment Allowance (100% capital allowances on Plant in year of purchase) from £25,000 to £250,000 wef 1 Janaury 2013.
  • The main corporation tax rate being reduced to 21% from 1 April 2014.
  • No new announcements on a General Anti Avoidance Rule, to combat aggressive tax planning.


 
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