How Corporate Tax Is Used by the United Kingdom Government to Support Essay

How Corporate Tax Is Used by the United Kingdom Government to Support Industry - Essay Example This report has looked at the way the UK is supporting the industry. This includes making the taxation system better by reducing corporate taxes, making the UK a better place to start and even grow a business by removing costs that would making businesses spend a lot. In addition, it encourages investment as a way of balancing the economy and finally, making the youth better in terms of education and giving them internship and apprenticeship programmes. This would help them to become more skilled on their areas of specialisation. This report makes a conclusion that these measures are just the start and the government is trying to streamline these ones and see if it can introduce others that will help in supporting the industry. It has been noted that, a better taxation system is through dropping the corporation tax system by one percent. This will help the investors and encourage other companies to increase their production. Another way is through changing the old rules of the Controlled Foreign Company with better and more attractive rules. The government is also removing the old taxation system and has put in a commission to create a newer, more effective and simplified ways of income tax. The reporter say that for the United Kingdom to be one of the best places to start and grow a business, the government should give start up loans at low interest rates and give the business people a longer time to repay the loans. This will help them work to make a profit and pay their loans on time.