UK Autumn Budget 2017 - Northern Ireland corporation tax on hold

Nov 27, 2017

With a Budget only recently set for Northern Ireland by Westminster, there has already been much fallout from the ongoing absence of an Executive in NI. Until now, the UK government had been silent on the Northern Ireland Corporation Tax regime which was due to commence in just over four months’ time on 1 April 2018. 

The Autumn Budget makes very clear that the impetus remains with NI’s politicians to reach agreement. The regime is very much in a state of limbo but the UK government was careful to reiterate that it remains committed to the regime on the same terms as before, “once a restored Executive has demonstrated that its finances are on a sustainable footing”. Subject to this, in 2018-19, the government will consider an announcement on implementing the regime.

In the meantime, Northern Ireland’s Budget is to increase by £660 million through to 2020-2021.