|Corporation Tax rate||19%||20%|
|Research and development relief||From 1.1.2018||From 1.4.2015
|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.