The ICAEW argues that the move must be made to ‘consider the long-term competitiveness of UK plc’.
It argues that other European countries have been reducing their taxes and contrasts the UK rate of 30% to Ireland’s of 12.5%.
There is also a call to make sure the UK tax system is well-prepared to cope with the move to International Accounting Standards.
David Illingworth, president of the ICAEW, said: ‘It is vital to consider reforms which would make the UK a more attractive location for conducting international business rather than merely increasing the existing regulatory burden on UK companies.’
The pre-Budget speech takes place on 10 December, with full coverage on AccountancyAge.com and in the 11 December issue of Accountancy Age.
Committee expresses concern about costs to businesses and April 2018 implementation date
Andrew Tyrie airs views on the Finance Bill, 'Making Tax Policy Better' report, and Brexit
Top 25 firm HW Fisher & Co has acquired London firm Rhodes & Rhodes
Top Ten firm RSM has appointed Nick Blundell as its head of corporate tax in Birmingham