The initial perhaps inevitable reaction to those parts of the Budget dealing with corporate tax is one of disappointment. Disappointment that despite the pressing problems of the fiscal deficit and the looming election the Chancellor failed to halt (let alone reverse) the UK's slide towards an unattractive and uncompetitive tax regime. Instead we were treated to the usual ragbag of measures frequently designed to micro-manage parts of the economy or as yet too vague to be properly assessed.
To give the Treasury some credit we got some broadly helpful indications of future developments in relation to the new patent box a hint that the long awaited CFC reform will finally be delivered within the next 12 months (although its form remains much open to debate) and a clear indication of a desire...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
Alternatively, you can register free of charge to read a limited amount of subscriber content per month.
Once you have registered, you will receive an email directing you back to read this article in full.
Please reach out to customer services at +44 (0) 330 161 1234 or 'customer.services@lexisnexis.co.uk' for further assistance.
Home >Articles > Budget comment: on corporate taxes
Budget comment: on corporate taxes
Jonathan Peacock QC on corporate taxes
The initial perhaps inevitable reaction to those parts of the Budget dealing with corporate tax is one of disappointment. Disappointment that despite the pressing problems of the fiscal deficit and the looming election the Chancellor failed to halt (let alone reverse) the UK's slide towards an unattractive and uncompetitive tax regime. Instead we were treated to the usual ragbag of measures frequently designed to micro-manage parts of the economy or as yet too vague to be properly assessed.
To give the Treasury some credit we got some broadly helpful indications of future developments in relation to the new patent box a hint that the long awaited CFC reform will finally be delivered within the next 12 months (although its form remains much open to debate) and a clear indication of a desire...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
