Did you know that over the past 40 years, company tax rates have decreased around the world? Back in 1980, the global average was 40%!
Many business owners will remember a time when Corporation Tax was 28%. This rate was slashed to the current rate of 19% back in 2010. To encourage more business investment there were initially plans to reduce Corporation Tax even further, to as low as 17% in 2020. However, plans for the reduction were scrapped in late 2019.
With the impact of COVID-19 rippling across the globe, governments from all corners of the world are looking to recoup costs they’ve incurred, and company tax rates could be moving in the opposite direction.
But what do the changes mean for your business?
You can download the full guide here –
Make sure you are in the know by reading our latest guide today. Our guide gives handy guidance on:
- Changes from April 2023
- The super-deduction
- MTD for Corporation Tax
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