Select committee: Treasury Committee
Conclusion 15
Twelfth Report - Tax after coronavirus
Published 1 Mar 2021
Paragraph 116
Addressed to HM Treasury
Treasury Committee Tax after coronavirus All items in this report Report on parliament.uk ↗ Inquiry on parliament.uk ↗
Conclusion (the committee's words)
The UK has a lower corporation tax rate than other major economies, and we believe that a moderate increase in rate could raise revenue without damaging growth, especially if balanced with fiscally appropriate measures to help business, such as enhanced loss relief and capital allowances. However, it is clear that a very significant increase in the rate would be counterproductive.
From: Treasury Committee, Twelfth Report - Tax after coronavirus (HC 664), paragraph 116, 1 March 2021
Government response
No government response linked yet: deadline 1 May 2021, 2010 days ago.