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The Future of UK Corporation Tax

What’s ahead for companies, from rate rises to MTD.

For the past 40 years or so, corporate tax rates have decreased steadily around the world. In 1980, the global average stood
at around 40%, but by the end of 2020 it was closer to 24% as various countries aimed to encourage business investment.

Here in the UK, we’ve seen the main rate of corporation tax cut from 28% in 2010 to its current rate of 19%. Plans were originally in place to reduce it even further to 17% in 2020, but those were cancelled at the end of 2019.

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