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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:

  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.

 

 

Date: 16th April, 2012
Author: Cathy Corns

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