Spring Budget 2021: Chancellor hikes corporation tax to 25% from 2023

Personal thresholds remain frozen

Jenna Brown
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Sunak insisted that the UK had the lowest corporation tax rates in the entire G7
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Sunak insisted that the UK had the lowest corporation tax rates in the entire G7

Corporation tax will go up to 25% from 2023, but personal tax thresholds will be frozen, Chancellor Rishi Sunak has said in his Budget speech today.

Sunak told the House of Commons the move may not be popular but it was fair as the economy recovers after the Covid-19 pandemic. He added the UK would still have the lowest corporation tax in the G7...

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