UK Corporation Tax – Major Reforms

Naomi Belcher of Herbert Smith considers the recent Inland Revenue consultative document.

Naomi Belcher is a tax professional support lawyer with Herbert Smith. She is based in the Singapore office and can be contacted on +65 6868 8000 or by email at naomi.belcher@herbertsmith.com

On 5 August 2002 the UK Government announced that it was considering further, potentially far-reaching, reforms of the UK corporation tax regime. It published a consultation document considering the following three (inter-related) proposals for change: