corporation tax

Corporation tax is to be cut further, to 18% by 2020, the Chancellor has announced.

The government has announced a number of changes to the tax it collects from UK-based businesses, including financial advisers.

Labour will reverse an impending cut in corporation tax if elected next year, but is committed to maintaining the lowest level of all G7 countries, shadow chancellor Ed Balls is expected to say on Monday.

Business secretary Vince Cable is to unveil a new corporate law that will see directors of failed companies held personally liable for racking-up debts or managing businesses poorly.

A Conservative peer has urged the coalition to cut capital gains tax (CGT), arguing it discourages savings and investment and damages growth.

The Chancellor George Osborne is to set out a plan to reduce corporation tax to 20% in next week's Budget.

Perma-bear Albert Edwards has called for UK corporation tax to be raised so the surpluses companies are sitting on can be used to boost the global economy, branding plans for tax cuts "stupid".

The Irish government will not raise the country's low corporation tax rate in return for an EU-led bailout, as a French official said some view the rate as "almost predatory".

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