Bill Dodwell, Deloitte's head of tax policy said: "Autumn Statement 2014 will be remembered for the overnight change to stamp duty land tax. Perhaps encouraged by Scotland, the Chancellor has abolished the ancient 'slab' basis and moved to a progressive system. The new system applies to exchanges from 4 December and will result in lower tax bills for 98% of home buyers. Homes up to £937,500 will pay less stamp duty than under the old system but the most expensive homes will face a 12% charge over £1.5 million. It's a costly policy – some £800 million annually.

"International corporate taxation has hit the headlines over the last few years. The UK has taken a leading role in working with the G20 and OECD for change and today announced consultation on countering so-called Hybrid Mismatches (arrangements where a multinational can claim a tax deduction in one country without equivalent taxable income in another country). The changes are likely to take effect in 2017, in line with other G20/OECD countries. A surprise measure is a new diverted profits tax to be levied at 25% primarily on digital businesses. Those targeted appear to be businesses with a UK presence (people) but which currently report modest UK taxable income. No details have been announced – these will come out on 10 December. It appears to be a measure that fits into the international Base Erosion and Profit Shifting project but where the UK is moving ahead of other countries.

"As we move well away from the financial crisis the Chancellor has chosen to limit the use that banks may make of massive losses incurred on asset write-downs. In future only half of taxable profits may be offset with losses, which is expected to raise over £700 million annually. Other countries in the EU also have loss limitation rules.

"There are a range of anti-avoidance measures, including a move to amend the accelerated payment rules to cover cases where the payment is due from a group of companies. This is expected to bring in just under £800 million over two years. There's also new money going into R&D tax credits with increases in the rates for both the SME and Large company schemes. Orchestras and children's TV also join the creative industries tax credit arrangements.

"Overall, the Autumn statement is fiscally neutral and, as with Budget 2014, the Chancellor has identified a measure that seizes the headlines."

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