Despite Gordon Browns pledge to cut Corporation Tax from 30p to 28p, small companies will pay more, experts reveal.
The Corporation Tax rate for small companieswill rise from 19% to 22% from April 2008.
Paula Tallon, director and head of direct Tax at Chiltern, says: “Small companies are getting thumped again.
While headline Corporation Tax will go down, for smaller companies it is not good news, as the small companies rate is going up by 3%.
This unlikely to be neutralised by the reliefs announced.
Once again the less powerful are paying the price.”