Overview
Tom Whelan, partner at law firm McDermott Will & Emery, said:
“The super deduction from corporation tax of 130 percent of the cost of investment by UK companies is on the face of it to be welcomed. As ever, the “devil will be in the detail” as to what counts as investment for these purposes, and that is awaited. If the details are sufficiently attractive, it may encourage investors based outside the UK to invest more in the UK and make investments through UK companies. Clearly future increases in corporation tax will be seen as less welcome news, but these new rates still bear favourable comparison with the larger EU nations.”