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Outbreak of commonsense in the tax world…

Monday, November 7, 2016 5:46
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From City AM:

British businesses do not want further corporation tax cuts for fear of alienating the general public.

The consensus opinion across the UK’s companies is that corporation tax is not a “defining feature of tax policy”. This means that the benefits of a cut are outweighed by negative publicity attached to business’ role in the tax system, according to a study prepared by accountants PwC…

“There comes a point when rate cuts have diminishing impact and can send unhelpful messages about business’ contribution, even though corporation tax is just one of the taxes business bears. Businesses think there should be more focus on the taxes that generate the most revenue such as national insurance and VAT,” said Nicholson.


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