The following briefing is intended as a summary of key points of note regarding the Tax Strategy Group (“TSG”) corporation tax paper published on 23 July 2024 (the “TSG Paper”). The TSG is chaired by the Department of Finance and comprises senior officials and advisors from several government departments and offices. The TSG is not a decision-making body and its purpose is to set out different options and issues to be considered as part of the annual budgetary process.
The TSG Paper outlines the TSG view of the current corporation tax (“CT”) regime, and its view of what the future may hold for reform. The headings used are the same as those contained in the TSG Paper for ease of reference.