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Autumn Statement - Key Announcements

logoHere is a summary of the key points arising from this morning's Autumn Statement:

  • A married couple's transferable tax allowance will be introduced from 2015-16 which will mean that certain couples could benefit by up to £200
  • Fuel duty will be frozen for the remainder of this Parliament, saving a typical motorist £405 between now and 2015/16
  • National Insurance contributions for under-21s, where earnings are below £803 per week, are being abolished
  • The Small Business Rate Relief scheme will be extended for a further 12 months from 1 April 2014
  • Business rate rises will be capped at 2% rather than 3.2% as planned
  • HMRC will fund employers for taking on apprentices, in a measure to create an extra 20,000 higher apprenticeships over the next two years
  • A package of measures will be introduced to tackle tax avoidance, evasion and fraud, intended to raise more than £9billion over the next 5 years
  • People under the age of 50 will have to work until they turn 70 before they get the State Pension

If you have any questions please do not hesitate to get in touch with us: e: This email address is being protected from spambots. You need JavaScript enabled to view it. t: 0161 495 4700

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Clarke Nicklin House, Brooks Drive, Cheadle Royal Business Park, Cheadle, Cheshire, SK8 3TD. Registered Number OC309225.
The firm is registered to carry on audit work in the UK & Ireland. Details about our audit registration can be viewed at www.auditregister.org.uk under reference number C001178544. The professional rules applicable are the Audit Regulations and Guidance which can be found at www.icaew.com/regulations, and the International Standards on Auditing (UK and Ireland) which can be found at www.frc.org.uk/apb/publications/isa.cfm.