George Osborne announces cut in UK's corporation tax

Tough-talking British Chancellor George Osborne has promised further cuts to corporation tax after he announced in today's Budget he would cut corporation tax from its current 20% rate to 17% from April 2020.

Tough-talking British Chancellor George Osborne has promised further cuts to corporation tax after he announced in today's Budget a cut in the UK's corporation tax from its current 20% rate to 17% from April 2020.

He said the move would help British firms as he moved to clamp down on multinationals in the UK that seek to avoid taxes through complex structures.