The Budget on 23 March 2011 (and the Finance Bill issued on 31 March 2011) confirmed the introduction of the corporate tax reforms and anti-avoidance measures announced in December. The chancellor, George Osborne, also announced a surprise additional 1% reduction in the UK corporation tax rate on top of the reductions announced last year; the full UK rate will now be 26% from 1 April 2011, falling to 23% from 1 April 2014.
