Autumn Statement 2016: What this means for Corporate Tax
Our experts share their views on the 2016 Autumn Statement announced today.
Cathy Bryant, a lawyer specialising in corporate tax at law firm Blake Morgan, said: "The commitment to reducing the corporate tax rate to 17 per cent by 2020, and no lower, provides the business community much needed certainty at a time when so many other areas of business is uncertain.
A reduction of the tax rate below the 17% mark would have the result of turning the UK into a tax haven economy which will distract from the strategy to re-balance the economy. It also undermines public trust in tax-paying corporate world.
The Chancellor's budget shows Britain is very much open for business and will help businesses prepare for Brexit and implement strategies to mitigate any risk they may face.
The abolition of the Autumn Statement going forward is to be welcomed. It brings certainty to the tax and business environment.