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The Irish question

20 May 2008 / Richard Curtis
Issue: 4159 / Categories: Comment & Analysis , Capital Gains , Companies , Losses
High tax rates or low tax rates, which is best? RICHARD CURTIS reports as the Committee of the Whole House considers the Finance Bill


  • Increase in the small companies rate of corporation tax criticised
  • Should the capital gains tax proposals be put on hold pending a report?
  • Who will receive compensation for the loss of the 10% income tax band and how?

The House of Commons began its consideration of the Finance Bill sitting as a 'Committee of the Whole House' on 28 April 2008.

The first provisions under the spotlight were the small companies rate of corporation tax and the associated marginal rate fractions. Mr Mark Hoban for the Conservatives moved an amendment that would make the new rate 20% rather than the 21% proposed.

A Liberal Democrat amendment was taken at the same time which would mean that the increase to 21% would not come into effect until the Treasury had compiled and presented to the House a report on...

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