- At Autumn Budget 2024, the government published the Corporate Tax Roadmap, which sets out their approach to corporation tax for the course of the parliament and aims to provide stability and certainty to businesses to encourage private sector investment.
- The roadmap sets out the features of the tax system that will be maintained for the course of the parliament, such as the headline rate of corporation tax, the current rates for R&D reliefs, and the core capital allowances structure.
- The document also highlights areas where the government expects to consider changes to ensure the tax system remains dynamic and up to date, including consultations in the following areas:
- a new process to give investors in major projects increased advance certainty;
- widening the use of advance clearances in R&D reliefs;
- reforms to the rules on transfer pricing, permanent establishments and diverted profits tax;
- review of the effectiveness of Land Remediation Relief; and
- tax treatment of predevelopment costs.
- Timing: the consultation on advance tax certainty for major projects closed on 17 June 2025. The consultation on R&D advance clearances closed on 25 May 2025. The international tax consultations closed on 7 July 2025. The review of Land Remediation Relief closes on 15 September 2025. The predevelopment costs consultation has been postponed to give government and stakeholders time to reflect on the Court of Appeal judgment in Orsted West of Duddon Sands (UK) and others v HMRC.
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