The Autumn Statement produced mainly helpful news for business. Companies will be pleased with the 1% cut in corporation tax to 21% from 2014. The two year increase in the annual investment allowance to £250,000 is valuable, but confusing to apply, as the allowance goes up from £25,000 to £250,000 on 1 January 2013 and then down again in 2015. The announcement of the 25% creative industries tax credit is excellent and helps support sectors where the UK has a strong presence, but where there had been economic incentives to move activity elsewhere. The decision not to proceed with changes to the IR35 rules, or to introduce a new 'controlling person test will also be welcomed. The Government will also review the use of offshore intermediaries, which claim to avoid UK NIC. More