UK insurers to benefit from coalition budget
UK corporation tax will be cut by 2 percent this year, as the government outlined its plans to boost growth in a budget that tax advisers instantly hailed as good for insurers.
Chancellor of the Exchequer George Osborne also said he wanted to "fundamentally reform" rules for controlled foreign companies (CFCs) to make their tax arrangements "more territorial".
"We will introduce new rules that effectively apply an ultra-competitive 5.75 percent rate on overseas financing income. That will give us a...
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