The government will publish its Autumn Statement on 23 November 2016.
UK corporation tax rates are unlikely to decline to the 15% level proposed by George Osborne but, whatever one’s views on the recent referendum, Brexit may mean that the UK tax system will no longer be constrained by State Aid rules originating from European regulation.
If this is correct, the chancellor will soon have the opportunity to consider relaxing some of the recent restrictions applied to tax-favoured investments such as venture capital trusts and the enterprise investment scheme when considering how to stimulate small and medium-sized enterprises in the UK.
