The Chancellor must introduce scaled relief for Corporation Tax payments due this year, in order to help smaller companies invest through the COVID19 crisis: 100% relief for turnover under £100,000, 70% for turnover over under £250,000 40% for turnover under £1million
Britain's recovery from COVID19 will take many months and our economic recovery at a local and national level will be driven by the tens of thousands of smaller businesses who are most adversely affected when it comes to their ability to trade through. These businesses are, however, the backbone of Britain and need the support of the government in order to recover, innovate, and thrive.
Scaled Corporation Tax relief reduces the need for more government spending and empowers small businesses.