It was no surprise to me to discover the chap who wrote this, John Morton, had People Like Us amongst his previous credits. If you like one you are almost certain to like the other. The style here is a brilliant mix of the deadpan, the wry and the absurd played out by a cast admirably maintaining straight faces throughout. People Like Us is the most obvious precursor I think, but it'd be hard to deny there are also traces of the immortal I'm Alan Partridge (and so, by default, what with it taking so much of it's own cue from IAP, The Office).
I found every episode of Twenty Twelve consistently amusing, at the least, and peppered with genuine laugh-out-loud lines, exchanges and situations. Of the decade so far, I'd say it ranks up there with Facejacker as an instant-classic and indeed, it's already high in the list of best of this century. Personally, I just hope they find time to make another series before the Olympics gets under way. I'd look forward to that more than the Olympics themselves!