Finance Bill 2011

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.

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