Jeremy Hunt confirms a 25% increase beginning in April


In his Autumn Statement, Chancellor of the Exchequer Jeremy Hunt has announced that the UK’s rate of corporation tax will rise from 20% to 25% from April 2017.

The increase was expected, as the government had already announced its intention to increase the rate in its 2016 Budget.

The new rate is expected to raise £6bn in revenue for the government over the next four years, money that Hunt said would be used to fund additional investment in public services.

Speaking in the House of Commons, Hunt said the increase was necessary in order to make the UK’s tax system “fairer and more competitive”.

The new rate is expected to be welcomed by small and medium-sized businesses, who will benefit from a new lower rate of 19%.

However, some large companies have expressed concern that the new rate will put them at a disadvantage compared to their international competitors.

The rate is also expected to be a significant blow to multinational companies operating in the UK, who have been able to take advantage of low tax regimes elsewhere.

The government has said that it plans to introduce further measures to make the UK more attractive for business, such as cutting business rates and introducing a new digital services tax.