CORPORATION TAX RATES REMAIN UNCHANGED

摘要

The corporation tax rate will remain unchanged from the previous Budget, staying at 19% and will be cut to 17% from 2020. The hybrid and other mismatch legislation 'in respect of certain mismatches involving permanent establishments and the treatment of regulatory capital' has been amended. Non-resident companies that carry on a UK property business or have other UK property income will be chargeable to corporation tax on income from 6 April 2020. This may require that they incorporate the UK's corporate interest restrictions and anti-hybrid regime when computing their corporation tax liability on rental income.