taxnews.ey.comPrint

18 March 2016

UK Budget includes Business Tax Roadmap and other business tax changes

The UK Chancellor of the Exchequer delivered his 2016 Budget (the Budget) on March 16. The Budget was a mixed bag for big businesses and the effect is not easily determined. The further one percentage point cut in corporation tax to 17% that was announced to have effect from 2020 will help, as will deferral of the announced advance in payment dates for very large companies, but the seven other changes announced to corporation tax will raise over £9bn over the five-year budget period.

A Tax Alert prepared by Ernst & Young UK, and attached below, provides additional details.

———————————————
ATTACHMENT

Document ID: 2016-0526

 

The information contained herein is general in nature and is not intended, and should not be construed, as legal, accounting or tax advice or opinion provided by Ernst & Young LLP to the reader. The reader also is cautioned that this material may not be applicable to, or suitable for, the reader's specific circumstances or needs, and may require consideration of non-tax and other tax factors if any action is to be contemplated. The reader should contact his or her Ernst & Young LLP or other tax professional prior to taking any action based upon this information. Ernst & Young LLP assumes no obligation to inform the reader of any changes in tax laws or other factors that could affect the information contained herein.

 

Copyright © 1996 – 2025, Ernst & Young LLP

 

All rights reserved. No part of this document may be reproduced, retransmitted or otherwise redistributed in any form or by any means, electronic or mechanical, including by photocopying, facsimile transmission, recording, rekeying, or using any information storage and retrieval system, without written permission from Ernst & Young LLP.

 

EY US Tax News Update Master Agreement | EY Privacy Statement