On 9 December 2009, the Chancellor presented to Parliament the Pre-Budget Report for 2010-11. The main business taxation proposals are set out below.
Small companies' tax rate
The planned increase in the corporation tax rate for small companies has been deferred for one year. The rate will therefore remain at 21% for the 2010 financial year.
Amendment to the worldwide debt cap legislation
Finance Bill 2010 will introduce amend…