Watergroup News* - issue 6 |
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May 2007
In this edition of Watergroup News* we consider the proposed changes announced in the Chancellor’s Budget Speech on 21 March 2007.
The Finance Bill 2007 reduces the corporation tax rate to 28% from 1 April 2008 and includes the withdrawal of balancing adjustments. A phased withdrawal of the Industrial Buildings Allowance and changes in the timing of capital allowances are also expected to be included in the Finance Bill 2008.
All of these matters are likely to have a significant impact on water companies, given their levels of profitability and substantial capital expenditure programmes. These issues will require some careful consideration over the coming months.
© 2008 PricewaterhouseCoopers. All rights reserved. PricewaterhouseCoopers refers to the network of member firms of PricewaterhouseCoopers International Limited, each of which is a separate and independent legal entity.
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