The 20% corporation tax rate: planning for 2015

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George Osborne announced in the Budget that from 1 April 2015 the main rate of corporation tax will be reduced to 20%, thereby marrying both the large and small company rates and eliminating marginal relief.

This further reduction, down from 28% when the coalition came to power, provides the UK with the lowest CT rate of any of the G7 member states and the joint lowest rate in the G20.

Carl Powell, a partner at Houghton Stone and consultant on the PracticeWEB Budget guide, explained some of planning opportunities available with the reduction in the main rate...

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About Robert Lovell

Business and finance journalist


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    25th Mar 2013 12:14


    If they do decide to 'simply' CT be removing the distinction between large and small companies for payment of CT it will mean an enormous tax hit against small companies as they will have to pay two instalments for the first year of instalments whilst still paying the full amount of the tax due for the previous year 9 months after the end of that AP.  Be careful because you might get what you wish for!


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