On 5 December 2012, the Chancellor of the Exchequer delivered the Autumn Statement to Parliament. The Autumn Statement contains an indication of proposed legislation for the Budget of 2013 and subsequent years. The main tax proposals are set out below. Business taxation As previously announced, the main rate of corporation tax (currently 24%) will be reduced to 23% for financial year 2013. For financial year 2014, the main rate of corporation tax will be reduced to 21%. With effect for a 2-year period commencing on 1 January 2013, the Annual Investment Allowance will be increased from GBP 25,000 to GBP...