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LONDON, March 3 (Reuters) - BT, Britain's biggest
broadband and mobile provider, said the "super deduction" tax
break for investment announced by the government on Wednesday
would significantly cut its tax bill for several years.
BT is spending billions of pounds in building fibre
broadband connections to homes and businesses, and extending its
5G mobile network.
Its shares closed 6.7% higher on Wednesday.
"We are expecting to invest significant amounts of capex in
plant and machinery over the next several years, and to the
extent this proves to be eligible for the super-deduction it
could result in a significant reduction in our corporation tax
bill for our 2021/22 and 2022/23 financial years," a spokesman
said.
"This would be offset in later years by the subsequent
increase in the corporation tax rate to 25% from April 2023."
(Reporting by Paul Sandle; Editing by Cynthia Osterman)
