Corporation Tax rate
The main rate of Corporation Tax from 1 April 2016 remains at 20%.
From 1 April 2017 the rate is set to reduce to 19%
From 1 April 2020 to 17%.
VAT registration and deregistration limits
From 1 April 2016:
Registration threshold increased to £83,000
Deregistration threshold increased to £81,000
The employment allowance for 2016/17 has increased from £2,000 to £3,000 (available to offset against employer’s class 1 national insurance). However, it should be noted that companies where the director is the sole employee will no longer be able to claim the employment allowance.