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Proceeding contribution from Lord Forsyth of Drumlean (Conservative) in the House of Lords on Tuesday, 17 July 2007. It occurred during Debate on bill and Debate on select committee report on Finance Bill.

Finance Bill

My Lords, perhaps the noble Lord will help me with a problem. How is it a simplification measure to increase the corporation tax paid by incorporated companies from 20 to 22 per cent, while in the same Budget reducing the rate of income tax from 22 per cent to 20 per cent, thus creating a mirror image of the position existing at the moment whereby companies, incorporated or unincorporated, pay tax at 22 per cent? Will not this change add to the burden on some companies and make it more complicated?

Secondary information

Type
Proceeding contribution
Reference
694 c158 
Session
2006-07
Chamber / Committee
House of Lords chamber
Subjects
Companies Capital gains tax Business Corporation tax Capital allowances Fraud ICT Income tax Empty property Inheritance tax Low incomes Payments Welfare tax credits Small businesses Reform Tax allowances Stocks and shares Tax avoidance Taxation VAT Research Tax rates and bands Self-employed Revenue and Customs Electronic government Research and development tax credit Managed service companies
Legislation
Finance Bill 2006-07
Link
View this Proceeding contribution on www.publications.parliament.uk