Reply to post: Would do better to abolish corporation tax

Chancellor launches £500m business software subsidy in the UK. What's 'approved' software then?

James Anderson Silver badge

Would do better to abolish corporation tax

This is effectivly a tax on British owned and operated companies.

Foreign owned businesses just do not pay it.

e.g. Starbucks after some public outcry now "volunteers" to pay approx 3.5 million in corporation tax.

Costa Coffee pays 24 million.

Costa could actually reduce this by operating some well know fiddles involving Luxembourg but choose not to. These options are not viable for smaller companies.

So it raises very little money and gives a competitive advantage to giant multi-national companies over locally owned businesses.

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