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Corporate Tax

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.

Year to 31.3.2019 31.3.2018 31.3.2017
Corporation Tax rate 19% 20% 20%

Research and development relief From 1.1.2018 From 1.4.2015
to 31.12.2017
From 1.4.2016 From 1.4.2017
SME enhanced expenditure
deduction scheme*
130% 130% 130% 130%
Large company enhanced expenditure
deduction scheme*
N/A N/A N/A 30%
Large company R&D Expenditure
Credit (RDEC) scheme**
12% 11% 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.