Corporation tax small part of business yield

The UK’s largest businesses paid £77.6bn in tax last year, although just £6bn was paid in corporation tax, according to PwC

PwC’s 100 Group Total Tax & Economic Impact Survey revealed taxes paid increased by 11% since 2005 when the study started, while CT has continued to decline by 40%.

The £0.5bn increase, up from...

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Comments

Stimulating Economic Activity?

KWest | | Permalink

The first to "stimulate UK economic activity and growth" are the SMEs. Up until 2006 they were paying 19% corporation tax with marginal relief for profits between £50K and £300K. They are now paying 20% with no marginal relief. If the Treasury really are concerned about "stimulating" economic growth it would be better if they were to lower the tax and while they're at it - reintroduce the 10% tax rate for profits not exceeding £10K that Brown scrapped in 2005 during one of his barrel scraping budgets.