Autumn Statement: What It Means For Businesses
News release 5th December 2012The Chancellor George Osborne today made his Autumn Statement in the House of Commons. Michael Cope, Tax Partner at chartered accountants Duncan & Toplis, takes a look at the announcement and the impact it is expected to have on businesses. Headline rates The Chancellor announced an increase in the thresholds from which basic and higher rates of tax are paid. These increases give more tax relief for all taxpayers, and unlike some prior years this will include higher rate taxpayers as well. Increases have also been announced for the Capital Gains Tax