The Government has just published a big new strategy paper on corporate tax strategy over the next few years, with planned reforms, including a “road map” (Horrid term). It is a good idea. I’m all for treating big business well and letting them get on with staying here and making more money.
But when you read it you would be forgiven for thinking that only huge companies pay Corporation Tax. It’s all about foreign profits, mainstream corporation tax rates etc.
I assume small businesses are ignored because they have been pigeon-holed by The Treasury under “small business taxation” with the self-employed. Yet I bet more pay corporation tax than income tax.
So why doesn’t this report even acknowledge the small corporate businesses? Otherwise the big strategy will roll out regardless, damaging small business in the name of progress and protection for the huge businesses.
What do you think?