If you own a small business…
From April 2014 the main rate of corporation tax will drop 1 percentage point to 21%, boosting small- and medium-sized enterprises (SMEs). A new Business Bank will be set up to provide a £1bn boost to the small exports businesses. Also, the annual investment allowance has been increased tenfold, meaning SMEs can invest up to £250,000 a year with full tax relief in plant and machinery.
Small businesses listed on the AIM market might also benefit from extra funding if the government allows Isa investors to put AIM shares in an Isa.
If you are working …
The personal tax allowance will rise by £235 more than planned in April 2012, meaning anyone earning up to £9,440 will pay no income tax. The 40% higher rate tax threshold will go up by 1% in 2014 and 2015 from £41,450 now to £41,865 and then £42,285.
From the Guardian: http://www.guardian.co.uk/money/2012/dec/05/what-autumn-statement-means-to-you
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Replies
3p a litre fuel duty rise is scrapped:
http://www.telegraph.co.uk/finance/budget/9724259/Autumn-Statement-...
The increase in tax allowance will benefit all of us, as will the scrapping of fuel duty increase. The increase in the investment allowance will not benefit me as the amount i invest was under the old threshold anyway.