The Chancellor's Autumn Statement

On 5 December 2012 the Chancellor, George Osborne, delivered his Autumn Statement responding to economic forecasts published by the Office for Budget Responsibility.

The Statement contained little scope for immediate impact in the Private Client field, but there are a number of key points that may affect you in the future:-

Basic income tax threshold to be raised by to £9,440 from April 2013;

Threshold for higher-rate tax to rise by 1% in 2014 and 2015;

Annual Investment Allowance to increase from £25,000 to £250,000 on 1 January 2013, for a period of two years.

These notes have been prepared for the purpose of an article only. They should not be regarded as a substitute for taking legal advice.