Year to 31.3.2018 31.3.2017 Corporation Tax rate 19% 20% Research and development relief From 1.4.2017 From 1.4.2016 SME enhanced expenditure
Large company R&D Expenditure
Credit (RDEC) scheme**
*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.