May 20th in Accountancy News, Business, Economy, Tax, Tax Avoidance by Editor .
Company Taxes to be Cut
Good news for business, but will it be enough to tempt exiled companies back…?
George Osborne yesterday said he would lower the headline rate of corporation tax, giving the UK the lowest rate across the G20.
He said he would use an emergency Budget on 22 June to kick-start a five-year plan to overhaul the corporation tax regime.
“We will reform the corporate tax system by simplifying reliefs and allowances and tackling avoidance, in order to reduce headline rates.”
He is expected to reduce the rate from 28% to 25% per cent.
Companies may like the changes but their bosses might still balk at the impending CGT rises and increased taxes on high earners.
