 |
answer text |
<p>Since 2010 the Government has cut the main rate of corporation tax from 28% to
21%. It will fall further to 20% in April 2015. The Small Profits Rate was cut to
20% in April 2011. These corporation tax cuts will be worth around £9.5 bn per year
to businesses by 2016-17.</p><p> </p><p>The table below sets out the amount of Corporation
Tax liable for payment by businesses with a registered address in the Barnsley East
parliamentary constituency for accounting periods ending in the past five years. The
latest year for which figures are available is 2012-13.</p><p> </p><table><tbody><tr><td>
</td><td><p>2008-09</p></td><td><p>2009-10</p></td><td><p>2010-11</p></td><td><p>2011-12</p></td><td><p>2012-13</p></td></tr><tr><td><p>Corporation
Tax liability (£m)</p></td><td><p>10</p></td><td><p>6</p></td><td><p>6</p></td><td><p>7</p></td><td><p>8</p></td></tr></tbody></table><p>
</p><p>The increase in tax liability in 2011-12 and 2012-13 reflects an increase in
the number of businesses.</p><p> </p><p>This Government is backing businesses with
its long term economic plan. An increase in corporation tax would endanger the recovery
and cost jobs.</p><p> </p><p>Figures on the amount of tax paid, broken down by company
size, are not readily available and could only be provided at disproportionate cost.</p><p>
</p><p> </p>
|
|
