Corporation Tax Rates
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:
|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.
Date: 16th April, 2012
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