Corporation tax cuts on hold

Nov 18, 2019
Author: Craig Walker
budget date announced

Planned cuts to corporation tax next April are to be put on hold, Boris Johnson has told business leaders.

The tax rate paid by companies on their taxable profits was due to fall from 19% to 17%, with the aim of boosting business.

However, the Prime Minister told the CBI conference the rate reduction could cost the Treasury £6bn and the cash would be better spent on the NHS.

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Craig Walker

Tax Director, Sheffield