Budget: Corporation tax to fall to 24% in April

In his last Budget, George Osborne had already announced a reduction in the rate of corporation tax to 25% on 1 April 2012. However, today's further reduction means the government is on target to bring it to 22% by 2014 and "within sight" of 20%. The Chancellor said the move meant corporation tax in the UK was "dramatically" lower than its competitors, adding it was an "advertisement for investment in jobs in Great Britain". Osborne also announced plans which could lead to small firms being taxed on the amount of cash passing through their businesses rather than more complicated me...