CHANCELLOR Philip Hammond has indicated that he will scrap predecessor George Osborne’s pledge to cut corporation tax to below 15%, according to reports.
Hammond has told EU finance ministers that the government intends to stick to a plan to cut the rate to 17pc by April 2020, from its current level of 20%, people with knowledge of the talks told Bloomberg.
The tax cut was proposed by Osborne as way to boost the economy in the days following the UK’s decision to leave the EU.
The Spring Budget 2017 saw Philip Hammond commit to lowering corporation tax - was it a missed opportunity to lower the rate sooner?
Vernon Dennis of Howard Kennedy LLP explores HMRC's approach to the tax gap, and the tax authority's relationship with financial directors
In the first article of a series exploring recent tax developments and the challenges they present to companies in the UK, Lydia Challen looks at the key tax issues affecting CFOs
Kevin Hindley of Alvarez & Marsal Taxand UK LLP examines how businesses should approach the publication of their tax strategy, and outlines the key challenges for company boards