Anneli Collins looks at how corporate tax policy could evolve in the next few months
General consensus is that the 22 June Budget was good news for business. Of course some sectors such as banking and retail were notable exceptions but overall the reaction from business was positive. The VAT increase was substantial but it was expected and at 20% still keeps the UK competitive with more than half the EU countries having the same or a higher rate. And the corporate tax reduction was seen by many as better than expected regardless of the fact that the 24% rate won’t be introduced until 2014.Even the capital allowance restriction was taken positively since it ‘wasn’t as bad as expected’.
So far so good. But really 22 June was only the start of the journey with the most exciting (for some most challenging)...
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:
Anneli Collins looks at how corporate tax policy could evolve in the next few months
General consensus is that the 22 June Budget was good news for business. Of course some sectors such as banking and retail were notable exceptions but overall the reaction from business was positive. The VAT increase was substantial but it was expected and at 20% still keeps the UK competitive with more than half the EU countries having the same or a higher rate. And the corporate tax reduction was seen by many as better than expected regardless of the fact that the 24% rate won’t be introduced until 2014.Even the capital allowance restriction was taken positively since it ‘wasn’t as bad as expected’.
So far so good. But really 22 June was only the start of the journey with the most exciting (for some most challenging)...
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:
