Pause. The corporation tax rate was scheduled to fall to 17% from April 2020. However, the Prime Minister has confirmed that this will now not happen. The rate will likely stay at 19%.
Pro advice. If you have clients who intended to accelerate spending to fall before the rate change, advise them that they don’t need to do this.
The scheduled fall in corporation tax rate from 19% to 17% will now not happen. Advise clients that there is now no tax benefit to incurring additional expenditure before 31 March 2020.