UK will fall to 21st place in global corporate tax league table

The government’s plan to raise corporation tax to 25% for companies with profits above £250 000 next April means the UK will fall from sixth place to 21st in the global corporate tax league table according to a new study by UHY. 

The UK’s corporation tax rate has been at an historic low of 19% since 2017 with only Poland Croatia Belarus Romania and the Republic of Ireland ahead of it in the rankings of this global study of 30 countries. However from April 2023 the UK will be just below the global average though still more competitive than many similar sized economies.

Andrew Snowdon head of tax at UHY Hacker Young said: ‘For years the UK has been known as an established locale for international business and these upcoming tax hikes may lead investors to question the UK as...