Tax Rates 2019/20
Autumn Budget

Corporation Tax

Year to 31.3.2020
Corporation Tax rate 19%

Research and development relief From 1.1.2018
SME enhanced expenditure
deduction scheme*

Large company R&D Expenditure
Credit (RDEC) scheme**


*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.