|Tax Alerts, Information Reporting, Legis ...|United Kingdom
The United Kingdom (UK) Budget was delivered on 15 March 2023.
The rise in the main rate of UK corporation tax to 25% from 1 April 2023 was confirmed but there also were a number of tax incentives announced to offset the rise for certain targeted companies.
The UK super-deduction is to be replaced by immediate capital expensing for firms investing £1m+ a year on plant and machinery.
Twelve investment zones will be taken forward to attract opportunities across regions, with more details to come.
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