Corporation tax revenues jump 20%
New figures show big lift in corporation tax take, but experts say it will not be enough to meet chancellor's targets
Corporation tax revenues jumped by more than 20% in July, latest figures
reveal.
The tax intake from corporation tax, the first instalment of which is always
due in July, increased by 21.4% on the previous year, the data reveals.
However, experts predicted that the increases would not be enough to satisfy
the chancellor’s optimistic forecasts for revenue growth, saying there was still
likely to be a shortfall.