Corporate Tax

The UK is rewriting corporate tax to encourage funding

A waiter in the Flying Horse pub in London, November 19th 2014

Posted by Kate Holton

LONDON (Reuters) – UK Treasury Secretary Rishi Sunak on Wednesday revised corporate tax rates and corporate tax cuts in the retail and hospitality sectors hardest hit by the pandemic, while deviating from a planned annual increase while encouraging investment in green real estate.

Sunak presented his budget to parliament and said he could not abolish a tax that is collecting £ 25 billion ($ 34 billion) annually but would try to pay businesses such as pubs, shops, restaurants, gyms, cinemas and malls relieve. Empty.

Businesses are taxed on commercial space based on property value, a system that entrepreneurs have long claimed gives online retailers like Amazon an unfair cost advantage.

Sunak said that under the new system, property valuations will be reviewed every three years instead of every five years, the business tax multiplier will be frozen for the second year, and retail businesses will be given a 50% discount for one year. Hospitality and leisure.

(Bur David Milliken and Kate Holton)

tagreuters.com2021binary_LYNXMPEH9Q0YC-BASEIMAGE

learn more

A Brazilian model marries nine women and becomes international news
+ Horoscope: Check today’s forecast for your horoscope
+ Quick and easy recipe for chicken wings with hot sauce
+ Discover the juice that increases longevity and lowers cholesterol levels

+ CNH: Find out what you need to know to apply and renew
Browsing a crocodile video in Florianópolis has gone viral on the internet
+ Grocery stamps: understand changes with new rules to benefit from
+ Find out the most common stolen cars in SP in 2021
+ Expedition identified the giant squid that was responsible for the shipwreck in 2011
+ Everything you need to know before buying a saucepan
+ In Armenia, discover the Eastern Canal of the Roman Empire
+ USADA warns: Never wash raw chicken
+ Aloe Vera Gel in the drink: see the benefits
+ Lemon Squeeze Trick is Going Insane on Social Media

“Lifelong web fan. Incurable internet junkie. Enthusiastic bacon guru. Social media freak. Reader. Freelance food scientist. “

Related Articles