Discuss - Economy Corporation Tax - Less corporation tax for small businesses

Should small companies pay less corporation tax?

Alliance Party A bill to allow corporation tax powers to be devolved to Stormont has been introduced at Westminster. Small and medium sized companies, in which at least 75% of staff time and costs relate to work carried out in Northern Ireland, will qualify. If this test is not met, the company will continue to be taxed at the main UK rate. Source: http://www.bbc.co.uk/news/uk-northern-ireland-30141244

DUP 3rd March 2015 - The SNP have dropped a pledge to reduce corporation tax, claiming that "Scottish government has made clear that we have no intention to engage in a 'race to the bottom. Instead, we will use these powers to create a long-term competitive advantage, not through a blanket approach, but by using targeted changes in tax allowances." Source: BBC Politics, http://www.bbc.co.uk/news/uk-scotland-scotland-politics-31700448

Green Party "Corporation Tax will continue to be levied on the net profits earned by companies. These will be banded, with higher rates payable by larger companies in order to encourage smaller businesses." Source: Green Party Website: http://policy.greenparty.org.uk/ec.html

Labour "In setting out a plan to make Britain work for everyday working people, Labour will also go further in cutting business rates to help small firms. Last year we announced that we would freeze business rates in 2015 and 2016 at 2014 levels for properties under £50,000. This was paid for by not going ahead with the Government’s plans for a further cut in Corporation Tax." Source: Labour Party, http://press.labour.org.uk/post/97958100904/labours-plan-for-britains-future-begins-with

SNP "The SNP has wooed business by pledging that an independent Scotland would cut corporation tax by three percentage points compared with the rest of the UK." Source: FT.com, http://www.ft.com/cms/s/0/b8811596-a7c3-11e4-8e78-00144feab7de.html

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