12. Mar, 2018

Text

"Over the last ten years, the UK has created one of the most regressive systems of corporate taxation in the developed world.

As part of the Government’s “corporate tax roadmap”, the UK’s corporation tax rate has been cut from 30 per cent in 2005-06, to just 19 per cent today. A further reduction to 17 per cent is planned within this Parliament. By comparison, the total rate of tax on corporate profits is just over 30 per cent in Germany, and 33 per cent in France. Even Donald Trump’s recent tax cuts haven’t reduced the US corporation tax rate to as low as the UK’s.

But this is has not been a simple tax cut for businesses. At the same time, the rates of employers’ national insurance contributions have risen. Employers’ NICs now generate substantially more for the Exchequer than corporation tax."
Grace Blakeley

Over the last ten years, the UK has created one of the most regressive systems of corporate taxation in the developed world. As part of the Government’s “corporate…
independent.co.uk