Ireland 
USA Rates and computation changes
An increase in the R&D expenditure credit from 11% to 12% was announced. The planned reduction in the corporation tax rate to 17% in April 2020 was not specifically mentioned.
Tax reliefs encouraging investment in growing business and research and development activities have been increased, while relief for corporate chargeable gains has been capped.
Alongside the Budget, the Government has published a paper on corporation tax and the digital economy, to consider the issue of multinational groups and the amount of profit that should be taxed in the UK. An initial measure has been announced with the extension of withholding tax to royalties paid to low tax jurisdictions.
DISCLAIMER
By necessity, this briefing can only provide a short overview and it is essential to seek professional advice before applying the contents of this article. This briefing does not constitute advice nor a recommendation relating to the acquisition or disposal of investments. No responsibility can be taken for any loss arising from action taken or refrained from on the basis of this publication. Details correct at time of writing.
Disclaimer
This article was previously published on Smith & Williamson prior to the launch of Evelyn Partners.
