Tax policy briefing
The Queen's Speech delivered on 25 May declared that the new Government believes in 'lower and simpler' taxation. 'The Budget will set out a five-year roadmap for a big reform of corporation tax. It will reduce and simplify corporation tax rates to send out a signal that Britain is open to business again. Capital gains on non-business assets will be taxed at rates closer to those applied to income tax with generous exemptions for entrepreneurs ' it said.
This week's Tax Journal news extracts the coalition's tax proposals and highlights the latest developments ahead of the Budget on 22 June.
