2011 Budget: Barry Marshall, UK Head of Tax - instant reaction

Barry Marshall, UK head of tax, gives his instant reaction to the Budget announcements.

Barry talks about how business will welcome the wide range of measures that the Chancellor announced with the aim of promoting growth. Many of these were expected, including reform of the controlled foreign companies (CFC) regime, the introduction of a patent box and the re-introduction of Enterprise Zones.

Barry also highlights how there were also a number of bold and unexpected moves. These include an additional one percent reduction in the rate of corporation tax, a radical new relief from inheritance tax on gifts to charities and a reduction, rather than the planned increase, in fuel duty. Similarly, although it has been widely trailed, the decision to consult on merging the income tax and national insurance systems will be very welcome.

Barry Marshall, UK Head of Tax - instant reaction video transcript