Corporate Tax
£18bn corporate tax hike could cripple struggling businesses, Azets warns
Corporation Tax, which is currently 19%, will rise to 25% on 1 April 2023 and will raise an estimated additional £12bn in the first year, rising to £18bn by 2025/26
By 2025/26, the UK’s business community will have to pay an additional £18bn in corporate taxes a year, which will “significantly reduce investment and increase the chance of enterprises shutting”, according to a new report from accountancy firm, Azets.
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