UK Autumn Statement - 29th November 2011
6 December 2011
The UK Autumn Statement was delivered by the UK’s Chancellor of the Exchequer, George Osborne on 29th November 2011.
Points of note are as follows:
• Pledge for the UK to be the most competitive country in the G20
• 2012/13 – Individual Capital Gains Tax (CGT) exemption to be frozen at £10,600 p.a.
• SDLT relief for first time buyers to be scrapped from March 2012
• New capital allowance reliefs in designated Enterprise Zones
• New incentives for companies investing in defined Research & Development activities
• Simplification of the rules surrounding investments in Enterprise Investment Schemes (EIS) and Venture Capital Trust (VCT) schemes
• Introduction of the Seed Enterprise Investment Scheme (SEIS) for investors in new start up companies
• Introduction of Air Passenger Duty (APD) for business jets effective from 1 April 2013
• Income Tax, CGT and Corporation Tax relief for donations of works of art ‘to the nation’
The announcements are unlikely to have any direct impact upon Boston Limited.
Phil Knop
Director
Boston Limited