News: United Kingdom corporate tax rate reduced

As with every years first of April, another change has occurred in the United Kingdom's main corporate tax rate. For the past couple of year’s the UK’s government has been reducing the main corporate tax rate and in 2014 the tax rate has almost reached 20%. The new tax rate is 21%, falling 2% from the last years of 23% and 5% in the past 3 years. Althogh the small profits rate for Profits of £300,000 or less has remained the same for couple years.

What it means?

Meaning that the UK is supporting mid to large income companies and hoping that it would increase the formation of new companies. United Kingdom is aiming to reduce the main corporation tax to 20% by 2015, hoping that it would greatly improve the economic state of the Kingdom. And expecting a change in the GDP from a budget deficit to a profit by 2018-19.

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