NB: It has already been put to me that I have got over excited here and that this just relates to the exceptional sources of income of non-resident companies now subject to income tax so that they get the benefit of new UK corporate tax rates. On re-reading I accept that is plausible and that my commentary may be an over active imagination before breakfast. If so, this is a false alarm but I leave it just in case the counter suggestion is wrong. The commentary on Devereux’s proposal remains relevant come what may.
Clearly needs to think after the sugar rush of the cocoa pops.