Reduce corporation tax to 10% for small businesses under £500k

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Reduce corporation tax to 10% for small businesses under £500k

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Small businesses make up the largest portion of businesses in the UK, and only approximately 122 thousand of these make under £500k per year. Growing a company past this mark can make a significant difference to employment and innovation.

The current 20% tax rate is hinderance to this growth and can hugely restrict a small companies ability to grow, especially in the service sector which is an area of growth for the UK.

Reducing the corporation tax to 10% could allow these companies to reinvest in the business, employ more staff and create a more sustainable cash position. All good for economic growth.

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