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Richard Cartwright Andrew Arnott - Saffery Champness Any predictions for reducing the top level of income tax, help for savers or other headline measures were short lived in an Autumn Statement delivered by Chancellor George Osborne yesterday and aimed at keeping interest rates as low as possible whilst continuing to rebalance the UK economy”, Andrew Arnott of Saffery Champness, says: “One - and perhaps the only measure of interest to rural businesses - is the cancellation of the planned fuel duty increase from 1 January 2012, and a reduction in the next rise in August 2012 to be limited to 2p.
Richard Cartwright says: “The campaign to introduce super-fast broadband continues, but today’s announcement of £100 million investment will boost broadband speed and coverage in the major UK cities to include Edinburgh in the first phase rather than in rural areas. “The Chancellor also announced an extension of the EIS scheme to support start-up businesses that would give investors 50 per cent income tax relief for investing in business start-ups coupled with a 12 month Capital Gains Tax (CGT) holiday” says Saffery Champness. Andrew Arnott adds: “There were a number of the measures announced in relation to new homes, construction and planning reform that relate only to England and not to the devolved administrations. “In a separate announcement, Government has confirmed that those gifting pre-eminent works of art or historical objects to the Nation may receive a reduction in their income tax or CGT liabilities of up to £30 million per year overall”, Andrew Arnott concludes. |