{"id":72022,"date":"2023-09-25T07:50:12","date_gmt":"2023-09-25T06:50:12","guid":{"rendered":"https:\/\/www.taxresearch.org.uk\/Blog\/?p=72022"},"modified":"2023-09-25T07:50:12","modified_gmt":"2023-09-25T06:50:12","slug":"increasing-the-corporation-tax-rate-for-the-uks-largest-companies-could-raise-7-billion-a-year-in-tax","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2023\/09\/25\/increasing-the-corporation-tax-rate-for-the-uks-largest-companies-could-raise-7-billion-a-year-in-tax\/","title":{"rendered":"Increasing the corporation tax rate for the UK’s largest companies could raise \u00a37 billion a year in tax"},"content":{"rendered":"

I have this morning published the next in my series of proposals that will make up the Taxing Wealth Report 2024<\/a>.<\/p>\n

In this latest note<\/a>, I suggest that the rate of small company tax in the UK should be aligned with the basic rate of income tax, increasing it from 19 per cent to 20 per cent as a result.<\/p>\n

More significantly, I also propose that the differential of ten per cent between the corporation tax rate paid by smaller and larger companies should be restored, increasing the rate on those larger companies from 25 per cent at present to 30 per cent.<\/p>\n

The total tax raised might be \u00a37 billion a year with the incidence falling almost entirely on the shareholders of those larger companies, who will be amongst the wealthier people in the UK.<\/p>\n

\"\"<\/p>\n

The summary of this note<\/a> says:<\/p>\n

Brief Summary<\/strong><\/span><\/p>\n

This note suggests that:<\/p>\n