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This petition was submitted during the 2019 to 2024 Parliament

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Closed Zero corporation tax on businesses with a turnover of £400,000 due to Covid-19

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For all business with a turnover of £400,000 or below for any financial year that falls within or spans 2020 to be exempt from paying corporation tax for this and any following period of time whilst Government restrictions continue to impair or curtail trading conditions.

Many small businesses have had no choice but to become saddled with the additional burden of loans whilst struggling to remain solvent during Government-imposed restrictions will further hamper the recovery of those companies.

Instead of handing over a fifth of their hard-won profit in difficult times to HMRC business owners should have the opportunity to retain their profit in the business.

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    This petition will stay open until 1 June 2021.