Yesterday, Wednesday 5 December, the Office for Budget Responsibility (OBR) published its updated forecast for the UK economy. Chancellor George Osborne responded to that forecast in a statement to the House of Commons later on that day.
Hallidays of Stockport have issued a summary to the Chancellor’s Autumn Statement.
In the period since the Budget in March a number of consultation papers and discussion documents have been published by HMRC and some of these proposals are summarised here.
The summary also provides a reminder of other key developments which are to take place from April 2013.
The Chancellor’s statement:
His speech and the subsequent documentation was a ‘mini-Budget’ announcing tax measures in addition to the normal economic measures. The summary concentrates on the tax measures which include:
- changes to personal allowances and tax bands
- changes to pensions reliefs
- a tenfold increase in the Annual Investment Allowance to £250,000
- a further reduction in the main rate of corporation tax
- announcements regarding the General Anti Abuse Rule and other ‘abusive arrangements’.
To read Hallidays summary click here
HMRC warns of Self Assessment scams 
Inflation rose to 3.8% in July 
Message confirmed for national emergency alert test