Business and Corporation Tax - David Allen Accountants
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Business and Corporation Tax

green tick box No new changes to Corporation Tax rates with the rate still set to fall to 17% from April 2020.
green tick box Businesses will be supported further by increasing the Research and Development (R&D) expenditure credit from 11% to 12%.
green tick box An extension up to 31 March 2019 of the £1,000 business rates discount for public houses with a rateable value of up to £100,000.
green tick box An increase in the frequency at which the Valuation Office Agency (VOA) revalues non-domestic properties by moving to revaluations every three years following the next revaluation, currently due in 2022.
green tick box From April 2020, income that non-resident companies receive from UK property will be chargeable to Corporation Tax rather than Income Tax.  Also, gains that arise to non-resident companies on the disposal of UK property will be charged to Corporation Tax rather than Capital Gains Tax.
Indexation relief will be abolished for companies disposing of chargeable assets from 1 January 2018 onwards.
The fuel benefit charge and the van benefit charge will both increase by Retail Price Index (RPI) from 6 April 2018.

 

If you have any queries regarding your business and how the changes announced in the Budget may affect you please contact one of our Tax Specialists on 01228 711888.