Budget Forecast – Corporation Tax Cut to 20%

Chancellor George Osborne is expected to announce a cut in UK Corporation Tax to 20% in next week’s Budget speech.

Corporation Tax has previously been cut from 28% to 25% since his tenure as Chancellor. He has voiced that he plans to cut it to 23% over this parliament and a future cut to 20% in the Budget.

 It has also been reported that he is unlikely to make significant changes to higher-rate pension tax relief.

Tags: Wealth Management and Tax Planning