Emergency Budget 2010: Corporation tax rates
The Chancellor has announced a welcome reduction in corporation tax rates. He is reducing the main rate, currently 28%, over a four year period from 2011 to reduce the main rate down (by 1% a year) to final rate of 24%.
On the small companies rate (on profits below £300,000) the proposed increase to 22% from next year had been cancelled and instead the rate will reduce to 20%.
Date: 22nd June, 2010
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