View more on these topics

Budget 2011: Corporation tax reduced by 2%

Chancellor George Osborne has announced that corporation tax will be reduced by 2 per cent from April 2011.

The tax will then be reduced by 1 per cent a year for the following three years until it reaches 23 per cent.

Delivering today’s Budget, Osborne said he wants the UK to become one of the most competitive countries in the world and this reduction will see the rate of corporation tax become the lowest in the G7.

He said: “I want Britain to be the place that international business wants to go to, not the place they want to leave.

“From Shanghai to Seattle, I want it to be heard clearly around the world – Britain is open for business.”

But Osborne said this is not an opportunity for banks to pay less tax and said the bank levy will be increased from next year to offset the reduction in corporation tax.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com