Conservative Tax Proposals

The Conservative Party manifesto contains some detail on their tax policies if they are elected.

  • Main rate of Corporation Tax reduced from 28p to 25p
  • Small Companies rate of CT reduced from 21p to 20p

Both of these will be funded by “reducing complex reliefs and allowances” – no mention of what these are.  But don’t be suprised if the Annual Investment Allowance (AIA) on capital asset purchases is reduced – reducing your businesses tax allowances when you buy computers, machinery and vehicles for your firm.

The manifesto does not mention income tax or VAT, however we do know that

  • An independant Office of Tax Simplification will be created to suggest reforms for the tax system
  • SME’s will be paid a bonus of £2,000 for every apprentice they hire
  • There will be an emergency budget within 50 days if the Conservatives are elected

One response to “Conservative Tax Proposals

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