Corporation tax rate 'very good for UK business'

Steven Bruck, a partner at Blick Rothenberg Chartered Accountants, says: "Corporation Tax will come down one per cent from April 2015.

"For the first time in many years there will be a single rate of Corporation Tax at an internationally competitive rate of 20 per cent. This is very good for business and as an encouragement for inward investment in the UK."

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Small businesses won't pay NI

Around 450,000 small businesses - a third of all employers - will pay no employer National Insurance next year and corporation tax will be cut by 1% by 2015, George Osborne has announced.