Autumn Statement 2012
The Chancellor of the Exchequer has delivered the Autumn Statement 2012, which contained a surprising number of detailed tax proposals, including:
- An additional 1% reduction in the main rate of corporation tax, to 21%, from 1 April 2014;
- A large increase in the Annual Investment Allowance, from £25,000 to £250,000, for two years from 1 January 2013;
- Further restrictions to the annual and lifetime pensions allowances from 6 April 2014;
- Further anti-avoidance measures; and
- The scrapping of the ‘controlling persons’ proposals.
Click here to read our report on the Statement.
Please contact Jeff Webber or Malcolm Pengelly to discuss any aspect of the proposals.