Corporation Tax

Treasury written question – answered on 9th January 2023.

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Photo of James Murray James Murray Shadow Financial Secretary (Treasury)

To ask the Chancellor of the Exchequer, if he will publish the estimate of the cost to the public purse, including money spent IT systems and staff, of the decision to cancel the freeze in the rate of Corporation Tax announced on 23 September 2022 and to increase the rate to 25 per cent.

Photo of Victoria Atkins Victoria Atkins The Financial Secretary to the Treasury

Estimates of the IT and administrative costs associated with the increase in the rate of Corporation Tax were set out in the tax information impact note (TIIN) published at Spring Budget 2021 when the rate increase was announced.

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