According to Chancellor Philip Hammond, his predecessor George Osborne’s plan to cut corporation tax to 15 per cent was merely a suggestion, indicating that he has no intention of doing so himself. Commenting on the announcement Adam Marshall, acting director general at the British Chambers of Commerce, said: “For most businesses the current ambitions on corporation tax go far enough and if there are to be tax cuts to stimulate business confidence and investment, they should be on the huge upfront costs that businesses face before they turn over a single pound.”
Are you confused about corporation tax rates? One minute we’re heading for a 15 per cent reduction, but now it seems we’re not! Our experts at Beavis Morgan are available to provide individually tailored advice to ensure that your company is as tax efficient as possible, whatever the headline rate.
For further information, please contact your usual Beavis Morgan Partner.