Lower Taxes on Small Businesses

End quarterly tax reporting

Help against Late Payers

SMALL BUSINESS CORPORATION TAX

• Lower to 17 per cent, small profits rate of corporation tax to protect small businesses with annual profits up to £250,000. 

(BACKGROUND - The Tories had intended in 2016 budget to lower corporation tax to 17 per cent in 2020)

• If started, end quarterly tax reporting for small businesses. 

• Help small businesses on the issue of late payments.