Water Companies: Taxation
(asked on 22nd May 2023) - View Source
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will make it his policy to impose additional taxes on the profits of water companies.
This question was answered on 26th May 2023
From April 2023, the Corporate Tax (CT) rate increased from 19% to 25% for the most profitable companies with more than £50,000 of profits per annum. This ensures a greater contribution from the most profitable companies.
The Government keeps the UK tax system under constant review to ensure fairness for all taxpayers.