Year to31.3.202031.3.2019
Corporation Tax rate19%19%
Research and development relief
SME enhanced expenditure 
deduction scheme*

130%

130%
Large company R&D Expenditure 
Credit (RDEC) scheme**

12%

12%

*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.