Corporation Tax

Moore Stephens calls for a UK corporation tax discount for SMEs

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The OTS points the way to simplify UK Corporation Tax

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Source: HMRC Press Release 3 July 2017

The Office of Tax Simplification (OTS) has responded to calls for UK Corporation Tax to be modernised and simplified in its report Simplification of the Corporation Tax Computation published 3 July 2017.

The report looks at four broad themes

  • simpler tax for smaller companies
  • aligning the tax rules more closely with accounting rules where appropriate
  • simplifying tax relief for capital investment
  • a range of further issues affecting the largest companies

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15% corporate tax rate – will this alone be enough to encourage FDI? asks KPMG

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Source: press release 4 July 2016

“Whilst from a policy perspective it may help make the UK a “super-competitive economy”, a reduction in rates will likely not be enough on its own to drive FDI (Foreign Direct Investment). KPMG surveys of clients have consistently concluded that companies want stability, predictability and certainty, both in economic (including tax) and political terms. Whilst the current political and economic volatility prevails and uncertainty over a post-Brexit UK remains, companies may well be reluctant to invest in the UK.”

Source press release here