Tax rates & allowances
|Corporation Tax rate||19%||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.