The government has outlined its committment to provide a simpler, lower  and more predictable tax system.  These plans include lowering the main rate of corporation tax from 28% to 25%.

The emergency budget on 22 June, according to the speaker in the House of Lords, would include a roadmap, setting out the government’s plans to reform and reduce the tax over the five-year term and to make the tax rate the most competitive of all industrial countries.