UK risks being branded ‘tax haven’

| 13th July 2015

Despite general support of the Chancellor’s announcement that the corporation tax rate would be decreasing from 20% to 18% over the next five years, many caution the international impact of the decision.

Although there are seven other countries in the G20 with lower effective corporation tax rates, George Bull of Baker Tilly warns that the ‘drift towards ever-lower rates of corporation tax in the UK upsets governments in the EU and the US who see the UK becoming a tax haven in relative terms”. Other experts point out that the UK risks breaching current Japanese anti-tax haven laws.