Budget 2015: Osborne tweaks business taxes

Chancellor George Osborne said during Wednesday's Budget that he would make cuts to both corporation tax and business rates for small firms in the coming year. Corporation tax Corporation tax will be cut from 21% to 20% in two weeks time to make it "one of the lowest rates of a major economy in the world". Corporation tax is a tax levied on the profits made by companies and permanent establishments of non-UK resident companies and associations that trade in the European Union. Since the coalition came into power, Chancellor George Osborne has already cut corporation tax from 28%....