Tax professionals call for reduction of corporation tax

A survey of tax professionals has revealed that many want small businesses to be given tax breaks through reduction in corporation tax on small businesses, reports the Press Association.

According to the research, half (53.3%) highlighted business corporation tax as one of the levies they would like to see reduced, which they believe would help improve the long-term performance of the economy.

Martin Casimir, the executive director of CCH, said: "Tax experts have spoken loud and clear about what should inform the debate on taxation running up to the next general election."

"The focus is usually on income tax at general elections but, with the economy in trouble, tax experts are unequivocal about the need to ease the tax burden on the wealth-creating small business sector."

He also said there existed "a huge amount of pent-up concern" over the issue.

Accountancy information provider CCH carried out the research, which polled 150 experts and also highlighted fuel duty as one of the levies to be reduced.