Autumn Statement 2012
Chancellor George Osborne presented the Autumn Statement to the House of Commons on 5 December 2012. This newsletter summarises the key points and rounds up some of the recent changes announced by the Coalition Government.
If you are affected by the changes, please contact your usual Littlejohn tax advisor or contact us on email@example.com for more help and advice.
At a glance
- Income tax personal allowances to increase
- Reduction in annual and lifetime pension contribution allowances
- Cancellation of planned 3p fuel duty rise
- Corporation tax falling to 21% from April 2014
- Annual Investment Allowance rising to £250, 000
- Small Business Rate Relief extended for another year
- New Business Bank to receive £1bn of capital
- Capital gains tax annual exempt amount to increase
- Inheritance tax nil-rate band extended from 2015
- ISA allowance to rise to £11,520
This newsletter was prepared immediately after the Chancellor's Statement based on official press releases and supporting documentation.