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Zero corporation tax on businesses with a turnover of £400,000 due to Covid-19

Submitted by Martin Rand on Wednesday 4th November 2020

Published on Tuesday 1st December 2020

Current status: Closed

Closed: Tuesday 1st June 2021

Signatures: 13

Relevant Departments

Tagged with

2020 ~ Companies ~ Corporation Tax ~ Covid ~ Covid-19 ~ HMRC ~ Owners ~ paying ~ Recovery ~ remain ~ Small businesses ~ Tax ~ Time

Petition Action

Zero corporation tax on businesses with a turnover of £400,000 due to Covid-19

Petition Details

For all business with a turnover of £400,000 or below for any financial year that falls within or spans 2020 to be exempt from paying corporation tax for this and any following period of time whilst Government restrictions continue to impair or curtail trading conditions.

Additional Information

Many small businesses have had no choice but to become saddled with the additional burden of loans whilst struggling to remain solvent during Government-imposed restrictions will further hamper the recovery of those companies.

Instead of handing over a fifth of their hard-won profit in difficult times to HMRC business owners should have the opportunity to retain their profit in the business.


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