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A Closer Look at Proposed Corporate Tax Measures
The last few months have been significant in the world of Corporate Tax with the introduction of measures intended to make the UK's system of taxation more competitive on the international stage. However, it remains to be seen if these changes will have the desired effect. Taxand UK discusses the tax policy proposals that could benefit companies with operations in the UK.
There is firm commitment to improve the UK corporate tax regime. However, the decision to locate operations in the UK is also swayed by personal tax factors; whether flagged changes to the "non-domiciled" regime, coupled with the 50 per cent income tax for higher rate taxpayers and significantly increased capital gains tax, will derail this corporate tax initiative remains, however, to be seen. Interestingly, the US has recently issued proposals to reduce its headline rate and move to a more territorial based system, so we may well soon be able to compare and contrast the fortunes of the two jurisdictions.