Corporate Tax measures

Corporate Tax rate reduced

The Chancellor announced in the Spring budget that the Government is committed to continue to have the lowest corporate tax rate of the G20 major trading nations.  As already announced, the corporation tax rate reduced to 19% from 1 April 2017 and then will be reduced to 17% from 1 April 2020.

The corporation tax rate for small and medium sized companies trading in Northern Ireland will be reduced so that such companies can compete with those in the Republic where the rate is 12.5%.

The Government is also keen to continue to encourage investment in Research and Development (R&D) and the Chancellor announced that the R&D tax credit claim procedure would be simplified.

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