Submitted on Thursday 18th August 2011
Published on Thursday 18th August 2011
Current status: Closed
Closed: Saturday 18th August 2012
Re-Organise Corporation Tax Brackets for Companies
At the moment there are 3 rates of Corporation tax to pay for small, medium and large businesses.
For 2012 the rates for small business earning up to £300k profit is 20%. The next bracket up to £1.2m is 27.5% and over £1.5m is 26%.
Whilst each bracket has reduced this year, I feel that the larger the business, the more percentage they should pay.
Those businesses earning over 1.5m profit should increase to 1% over the middle bracket, whilst the smallest bracket currently at 20% should reduce to 19%.
This allows more chance for smaller businesses and start-ups to re-inject their cash back into their businesses, giving a higher ability for those smaller companies to one day become a larger business.
Finally, no large corporations should be able to negotiate their own tax.
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