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Autumn Statement: Good news for business

December 5, 2012

Author:

Type: Advice for Businesses, Latest Blogs, Tax, The Budget

 

There was some surprisingly good news for businesses in today’s Autumn Statement.

 

–  The Annual Investment Allowance will be increased from £25,000 to £250,000. This gives 100% tax relief on capital expenditure on plant and machinery (other than cars). The new limit applies to expenditure  incurred from 1 January 2013 to 31 December 2014.

 

– The main rate of corporation tax paid by large companies will be cut to 21% from 1 April 2014. This compares with the current rate of 24%. The small company rate remains at 20%.

 

– The 3p increase in fuel duty planned for January has been scrapped.

 

– The temporary doubling of Small Business Rate Relief will continue for a further 12 months to 31 March 2014.

 

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www.gas-energy.com.ua

shah21.com.ua

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