The prime minister has announced to the Confederation of British Industry (CBI) that if re-elected, the Conservative Party will back down from its pre-election pledge to reduce corporation tax. This means that the 19% rate is likely to remain for 2020.

A reduction in rate to 17% on 1 April 2020 is actually already law, it was enacted by section 26 Finance Act 2016.

This measure will presumably be re-evaluated in a post-election budget by the winner of the general election to be held on 12 December 2019.

Useful guides

Finance Acts and 2019 Rolling Tax Planner
What's new across the taxes this year and the next.


Boris Johnson speech to CBI, 28 November 2019.

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