Tax policy: the Corporate Tax Roadmap

Almost a decade after the last five-year plan was published by HM Treasury the government has published its latest vision for the future of corporation tax alongside the very last Pre-Budget Report (PBR). Having been widely trailed prior to the election and notable by its absence at the Emergency Budget in June the document was eagerly awaited by business seeking to dismiss their wildest concerns and to find out what the Coalition government really has in store for them.

In keeping with the last five-year plan the Corporate Tax (CT) Roadmap announced a number of policy changes at the same time and to date much of the press coverage has focused on these four elements (being Controlled Foreign Companies (CFCs) Foreign Branches Patent box and Research and Development Tax Credits). However before considering these it is worth looking...