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.
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