Who would have believed it? A full three months in advance,
the coalition government has made an unprecedented move to publish
draft clauses for the Finance Bill 2011. Many of these items are changes
that had already been announced or had been subject to a period of
consultation. The draft clauses include the points below.
Rate changes
As previously announced, the main rate of corporation tax of
27% (that will apply from April 2011) will reduce to 26% from April
2012. There will also be a reduction to the small companies’
rate of corporation tax from 21% to 20% from April 2011.