Corporation Tax Rates
Date: Monday 16th April, 2012
Author: Cathy Corns
Profile: Cathy Corns
Now the Budget excitement has died down it seemed a good idea to remind you of the changes in the main rate of corporation tax.
The reduced rates are:
| FY 2011 | FY2012 | FY2013 | FY2013 | |
| Main rate - profits over £1.5m | 26% | 24% | 23% | 22% |
| Marginal rate – profits between £300k and £1.5m | 27.5% | 25% | 23.75% | 22.5% |
| Small company rate – profits under | 20% | 20% | 20% | 20% |
The Chancellor did also indicate a desire to see a single rate of corporation tax of 20% at some stage. Incidentally, the profit limits are reduced by the number of group or other companies under common control.
Keywords: corporation tax
Please note that the opinions expressed in this blog represent the views of the author and not the views of Mercer & Hole.
Discussion and Comments