Corporation Tax Cut Announced

Dec 06, 2012

UK Corporation Tax Rate is to become the lowest rate of any major western economy.

In the autumn statement delivered on 5 December 2012 the Chancellor, George Osborne, announced that UK corporation tax, which was at 28% for large businesses when he became Chancellor in May 2010, will be reduced to 21% by 2014. He said that the tax cut was ‘an advert for our country that says, “Come here, invest here, create jobs here. Britain is open for business”.’