Corporation Tax is the tax of the profits and capital gains of a limited company, as well as some other types of organisations. Franklin Underwood have a team of corporation tax experts who are available to assist you with your taxation management, ensuring that you comply with legislation.
|Corporation Tax rate||20%||20%|
|Research and development relief||From 1.4.2016||From 1.4.2017|
|SME enhanced expenditure
|Large company enhanced expenditure
|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.
From 1 April 2016, RDEC will be the only scheme available for large companies.