the chancellor reiterated the planned decrease in the main rate of corporation tax to 25% from April 2012

Whilst the Chancellor's Autumn Statement was not intended to be a pre-budget report a few tax points were mentioned.  One clear message was that the main rate for Corporation Tax will be reduced to 25% from April 2012 as previously announced.   We are expecting the main rate of Corporation Tax to fall further - to 24% from April 2013 and to 23% from April 2014.  These reductions are part of the package to achieve the Chancellor's stated objective of making the UK the most competitive tax system in the G20.

Jo White
Tax Consultant
Tel: 01403 253 282