Autumn Statement 2012

December 6th, 2012

gill-molloy

Group Tax Director GILL MOLLOY comments on George Osborne’s Autumn Statement…

Despite a speech that lasted no more than 50 minutes, the actual Autumn Statement detail is expected to be quite lengthy. There may be a number of amendments or proposals, the impacts of which will not be fully appreciated for a few weeks to come.

However, amongst the various announcements, the Chancellor confirmed his intention to provide greater relief for businesses in the form of a further cut in main Corporation tax to 21% from 1st April 2014 and a welcome increase of the Annual Investment Allowance for plant and machinery from £25k to £250k with effect from 1st January 2013.

Please find below our summary which I hope you find helpful.

Should you have any queries or concerns regarding how these changes affect you or your business, please do not hesitate to contact me on 0161 703 2500 or by e-mail at gill.molloy@championgroup.co.uk

Alternatively, please get in touch with your usual Champion contact at your local office:

Blackpool 01253 621 512
Chester 01244 404 420
Manchester 0161 703 2500
Preston 01772 735 000


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