The government is focused on making the UK an attractive place to do business. The cut in corporation tax emphasises this, as well as the incentives offered by the Patent Box and the forthcoming ‘above the line’ R&D credit. There’s also a case for incentives tailored to sectors where the UK’s strength is being eroded by competition – so tax credits are offered for video games, animation and high-end TV production. Could destination taxation become relevant in other business sectors? Gambling moves this way in 2014. Finally, a bit of micro-business simplification rounds off the package.
