Against a backdrop of very tough economic conditions, this year's Budget
included a wide range of measures which aim to promote growth.
The Chancellor has taken some significant steps towards creating a tax system
that is more supportive of business investment and growth. We've had further
clarification on matters already under discussion in existing consultations,
an additional cut in the main rate of corporation tax, the reintroduction of
enterprise zones and changes to investment incentives and entrepreneurs'
relief. All will be a boost to support new and growing businesses.
However, contrary to this generally positive direction, there were some
unexpected and significant tax rises announced which will impact the oil and
gas industry and there were further increases in the bank levy.
George Osborne also announced a number of bold and unexpected moves in areas
such as inheritance tax, REITs and investment allowances. And, although it
has been widely trailed, the decision to consult on merging the income tax
and national insurance systems will be welcomed.
Click on the link below to read our summary of the measures announced and our
point of view on how they could affect you and your business in our 2011
be holding a live webcast at 3pm on 5 April 2011 to give you an update on the
latest developments regarding the corporate tax reform proposals, including
our reactions to measures announced in the Budget, the Finance Bill 2011 and
what the proposals and changes could mean for your business. Visit http://www.pwcplayer.co.uk/webcasts/0411_corp_tax_webcast/
to view the corporate tax reform webcast.