Corporation Tax

Year to 31.3.2018 31.3.2017
Corporation Tax rate 19% 20%

 

Research and development relief From 1.4.2017 From 1.4.2016
SME enhanced expenditure
deduction scheme*
130% 130%
Large company R&D Expenditure
Credit (RDEC) scheme**
11% 11%

*Additional deduction for qualifying R&D

**Taxable expenditure credit for qualifying R&D

SMEs that make losses can surrender the deduction to HMRC in exchange for a payment of 14.5% of the loss.