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
Articles from this Author
20th July, 2017
Uncertain times for winding up transactions
3rd July, 2017
9th June, 2017
27th April, 2017
Government places Making Tax Digital legislation on hold
Contact Business Service Partners
Choose from the drop down menu below to select a Partner to contact.
For the latest Mercer & Hole news, visit our LinkedIn page mercer-&-hole