The Green Party plan to raise corporation tax

In the latest 2019 election promises, the Green Party has pledged to invest £100bn a year to fund its climate policy over the next decade, if it wins the election.

They say that the bulk (£91.2bn a year) would come from borrowing, with the rest from tax ‘changes’.

One of these tax changes would be a rise in corporation tax (the tax Ltd companies pay on their profits each year) from the current 19% to 24%.

The 19% rate is due to fall to 17% from April next year, so the Green’s increase  would be a double whammy for Salon and barbershop owners.

So from a financial point of view only, not great.

• Posted on November 7th, 2019 in Tax Advice