UK budget introduces additional tax benefits; reduces corporate tax rate to 20%

March 2013


The UK Chancellor of the Exchequer delivered his 2013 Budget on March 20, 2013. The Chancellor reinforced the message that the United Kingdom is ‘open for business’. In additional to confirming a number of previously announced pro-business provisions, the Chancellor also announced more improvements to the UK tax system. These provisions, meant to encourage investment, include a reduction in the main corporate tax rate to 20% effective April 1, 2015 and an increase in the above-the-line research & development tax credit to 10%.

These changes, along with recent UK corporate tax reform, are likely to impact US MNC's that have, or are considering, investing in the United Kingdom.

Contact us

Tim Anson
ITS Co-leader
Tel: +1 (202) 414 1664

Rob DeGaudenzi
ITS Partner - NY Metro Market
Tel: +1 (646) 471 0645

Follow us