Should businesses pay any corporation tax at all?

Commenting for the UK200Group, BKL tax partner David Whiscombe responds to a report in the Guardian that UK taxpayers are funding businesses to the tune of £93 billion a year, or £3,500 per household.

 

“Nearly half of this figure of £93 billion is accounted for by ‘corporate tax reliefs’ – that is, allowing businesses to keep a bit more of their own money.

“On that logic, any reduction in the rate of business tax amounts to ‘government funding’ for business.  If I earn £100 and I pay £20 in tax, does that mean that the government have funded me to the extent of £80? I think not.”

 

More comments are available on the UK200Group website.

NICOLA HALL

BILSHAN MENSAH

Sam Inkersole

In 2022, Sam won the Taxation’s Rising Star award at the Taxation Awards in and was named in the Accountancy Age 35 Under 35.

Jon Wedge

While Jon’s client work focuses on the financial services sector, he also oversees the firm’s assurance service, as well as supporting the trainees following in his footsteps.

ELANA DIMMER

Elana joined us in 2017 as an ACA trainee, after graduating from Durham University where she had studied languages. She is now a manager in our assurance team.

ENQUIRY FORM

By submitting this form, the data provided will be used to perform your request according to our privacy policy.