Corporation Tax

Companies resident in the United Kingdom are taxable in the UK on their worldwide profits while non-resident companies are subject to UK corporate tax only on the trading profits attributable to any UK permanent establishment plus UK income tax.

The normal rate of corporation tax has been 19% from 1 April, 2017, but legislation is in place to reduce that to 18% for the year starting 1 April 2020 - with an announced intention to further reduce the rate to 17%.