Budget 2017: key corporation tax changes for business

Paul Davies ACA, specialist tax writer at Croner-i, gives a round-up of the key changes to corporate taxes announced in the Budget, from freezing the indexation allowance on chargeable gains to the increase in R&D relief and tightening of the corporate interest restriction rules

Corporation tax rates

The corporation tax rate will remain unchanged as follows:

  • financial year 2018 (commencing 1 April 2018)                     19%
  • financial year 2019 (commencing 1 April 2019)                     19%
  • financial year 2020 (commencing 1 April 2020)                     17%

Corporation tax measures

Indexation allowance on chargeable gains

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