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...
About Robert Lovell
Business and finance journalist