Corporate Tax Changes under the UK Coalition Government (2010–15) | Zendy

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Corporate Tax Changes under the UK Coalition Government (2010–15)

Author(s) -

Miller Helen,

Pope Thomas

Publication year - 2015

Publication title -

fiscal studies

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 0.63

H-Index - 40

eISSN - 1475-5890

pISSN - 0143-5671

DOI - 10.1111/j.1475-5890.2015.12054

Subject(s) - generosity , allowance (engineering) , corporate tax , government (linguistics) , economics , corporation , indirect tax , tax credit , tax reform , direct tax , tax avoidance , investment (military) , capital (architecture) , public economics , value added tax , business , finance , politics , political science , linguistics , operations management , philosophy , archaeology , law , history

Corporation tax was one of the most active policy areas under the coalition government in power in the UK from 2010 to 2015. In attempting to fulfil an aim to create ‘the most competitive corporate tax regime in the G20’, the government reduced the main rate by 8 percentage points, introduced a Patent Box and reformed the taxation of foreign income. The government also made changes to the tax base – notably, reducing the generosity of capital allowances for plant and machinery and temporarily increasing the generosity of the annual investment allowance – and took steps to reduce avoidance opportunities. This paper reviews the policy changes and sets out where they leave the UK corporate tax system.

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