EY Budget reaction: UK tax regime close to ‘best in class’

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Chris Sanger, head of tax policy at EY comments on the Chancellor’s Budget:

“The surprise extra cut in the corporation tax rate will be welcomed by businesses but the big news remains the government’s focus on the international environment, which will encourage companies to locate, invest and employ here. Combined with today’s announcement on the 50p rate, it reinforces the message that the UK is open for business.

“Add to this the patent regime and the new ‘above the line’ tax credit, to be introduced in 2013, the UK’s tax regime is coming close to best in class.”