Restore the small profits rate of Corporation Tax at 15% for profits to £300,000

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Restore the small profits rate of Corporation Tax at 15% for profits to £300,000

Petition Details

Since the 2011-12 tax year, the small profits rate of Corporation Tax has been eroded to zero.

In these uncertain economic times, we ask the government to support small businesses by restoring the small profits rate of Corporation Tax at 15% and locking this rate at 5% lower than the main rate.

Additional Information

In the 2011-12 tax year, the main rate of Corporation Tax was 26% against the small profits rate of 20% for businesses with profits of up to £300,000.

Since then, the main rate has been steadily reduced with no comparable reduction in the small profits rate.

As a result, since April 2015, there has been a harmonized Corporation Tax rate of 20%.

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