Tax rates & allowances
|Corporation Tax rate||19%|
|Research and development relief||From 1.1.2018|
|SME enhanced expenditure deduction scheme*||130%|
|Large company R&D Expenditure Credit (RDEC) scheme**||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.