An increase to the main corporation tax rate to 25% from 2023 (and the introduction of a small profits rate alongside it which will remain at 19%).
A temporary extension to the period over which both incorporated and unincorporated businesses can carry-back trading losses from one year to three years.
A new ‘super-deduction’ of 130% (or 50% for assets that normally qualify for capital allowances at a lower rate) for expenditure on new plant and machinery incurred between 1 April 2021 and 31 March 2023. This has immediate effect to the extent that it does not apply if the expenditure is incurred under a contract entered into before budget day.
A call for evidence to review the enterprise management incentives (EMI) scheme.
A review of the tax administration for large businesses.
A wide-ranging review of R&D reliefs beginning with a consultation on the nature of R&D investment and the impact of the...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
An increase to the main corporation tax rate to 25% from 2023 (and the introduction of a small profits rate alongside it which will remain at 19%).
A temporary extension to the period over which both incorporated and unincorporated businesses can carry-back trading losses from one year to three years.
A new ‘super-deduction’ of 130% (or 50% for assets that normally qualify for capital allowances at a lower rate) for expenditure on new plant and machinery incurred between 1 April 2021 and 31 March 2023. This has immediate effect to the extent that it does not apply if the expenditure is incurred under a contract entered into before budget day.
A call for evidence to review the enterprise management incentives (EMI) scheme.
A review of the tax administration for large businesses.
A wide-ranging review of R&D reliefs beginning with a consultation on the nature of R&D investment and the impact of the...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
