Overview

This Herbert Smith briefing considers the main proposals on corporate and business taxes (including some of the changes that would affect key individuals in a business) as published today in the Coalition Agreement (the Agreement.

With the parties agreeing to £6 billion in public spending cuts (subject to Treasury and Bank of England advice), the need to properly resource the Exchequer will undoubtedly focus attention on the tax contributions made by corporations and high net worth individuals. The Agreement is light on detail and is only the first chapter of what may be a long review of tax policy. Detailed timing for the introduction of the measures has not been set out.

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