The rate of corporation tax will be reduced to 17% from 1 April 2020.
The UK government has devolved power to the Northern Ireland Assembly to set a Northern Ireland rate
of corporation tax to apply to certain trading income. Although it has long been proposed that the rate
of corporation tax in Northern Ireland will be reduced to 12.5% this cannot be achieved until a Northern
Ireland Executive has been restored, it has demonstrated to the UK government that its finances are on a
sustainable footing, and the Northern Ireland Assembly sets the rate of corporation tax to be