The CBI has welcomed the Government\u2019s pledge to introduce a phased reduction in corporation tax to just 24 per cent but wants to see more done to ease the tax burden on businesses, large and small.<\/p>\n
In its submission to the Government\u2019s consultation document \u2013 Corporate Tax Reform \u2013 the employers\u2019 group said that the reduction in the main corporate tax rate was a good move. However, the CBI also insisted that the Government should eventually go further, once the public finances have been stabilised. To make the UK truly competitive, the rate should fall below 24 per cent at some future stage.<\/p>\n
The CBI gave its backing to the proposed introduction of the Patent Box which will complement the existing R&D tax credit scheme by making the UK a more attractive home for holding and exploiting intellectual property.<\/p>\n
Remember that we are here to provide expertise on all aspects of business tax.<\/p>\n","protected":false},"excerpt":{"rendered":"