UK Summer Budget: Osborne delivers another corporate tax cut

International Tax Review is part of Legal Benchmarking Limited, 1-2 Paris Garden, London, SE1 8ND

Copyright © Legal Benchmarking Limited and its affiliated companies 2025

Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement

UK Summer Budget: Osborne delivers another corporate tax cut

George Osborne, UK chancellor of the exchequer, surprised businesses today in the first Conservative Budget in the UK for two decades by cutting the corporate tax rate, though not for two years. He also announced expected measures against tax evasion and aggressive avoidance, but made himself unpopular with the funds industry by closing loopholes that helped managers avoid full capital gains tax on carried interest, or their share of a fund’s profits.

Unlock this content.

The content you are trying to view is exclusive to our subscribers.

To unlock this content:

Take a Free Trial or Login
more across site & shared bottom lb ros

More from across our site

The global tax and accounting firm has appointed two experienced TP advisers from a New Jersey-based boutique
A lack of commitment from major jurisdictions and the associated compliance burden are obstacles facing the OECD initiative
Richard Gregg is no longer fit and proper to be a tax agent, said the TPB; in other news, MHA completed its acquisition of Baker Tilly South-East Europe
Recent Indian case law emphasises the importance of economic substance over mere legal form in evaluating tax implications, say authors from Khaitan & Co
PepsiCo was represented by PwC, while the ATO was advised by MinterEllison, an Australian-headquartered law firm
Three tax experts dissect the impact of a 30% tariff that has shaken up trade relations between South Africa and the US
Awards
ITR is delighted to reveal all the shortlisted nominees for the 2025 Americas Tax Awards
As we move into an era of ‘substance over form’, determining the fundamental nature of a particular instrument is key when evaluating the tax implications of selling hybrid securities
It stands in stark contrast to a mere 1% increase in firmwide revenue since last year
It follows a court case concerning a Freedom of Information request lodged by the founder of a software company
Gift this article