Reply to post: Re: Would do better to abolish corporation tax

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

Hawkeye Pierce

Re: Would do better to abolish corporation tax

> So it raises very little money

Are you kidding? It raises around 10% of the total receipts to HMRC which is hardly "little money" in anyone's terms. And that will rise with the announcements in the week's Budget.

It's also completely incorrect to say "Foreign owned businesses just do not pay it". Foreign owned businesses have lots more opportunity to reduce their declared UK profit (and hence the corporation tax they pay) but many foreign owned businesses in the UK pay corporation tax. Also many British business pay zero or next to zero by the same schemes that help the likes of Starbucks - since you quote two coffee shops, try looking for Caffe Nero's tax payments (a British company). You might need a magnifying glass.

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