Bulletin

Corporation tax could soon be abolished for smaller firms

Money - Corporation tax scrapped entirely for small businesses - SantanderCB

Corporation tax could be scrapped entirely for some small businesses under plans unveiled by Angela Knight, the new chairwoman of the Office of Tax Simplification. In a report into small company taxation, she suggests that instead of a company paying corporation tax, its shareholders could pay income tax on the profits of the business. This would apply to micro-businesses with up to 10 staff. Knight suggests that the move could make tax payment simpler for businesses which distribute all of their profits to shareholders.

 

Note: News bulletin content has been provided by a third-party and is not the opinion of Santander

Other Articles

This International Women’s Day, our analysis reveals a continuing untapped potential and huge opportunity when it comes to women in…

London

London-based ACT Clean has secured private investor backing for a £10.2 million management buyout.

Bulletin
Spain

Santander takes 12 UK food and drink manufacturers to Spain on one of our successful trade missions. Adam Payne in the international team…

London

London-based ACT Clean has secured private investor backing for a £10.2 million management buyout.

Bulletin

This International Women’s Day, our analysis reveals a continuing untapped potential and huge opportunity when it comes to women in…

Getting a taste for Spain!

Santander takes 12 UK food and drink manufacturers to Spain on one of our Trade Missions. Alicia Ferrero Vega in the International team…

Bulletin

Where Next?