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Corporation Tax

Corporation Tax

 

Profit Band
£

2010/11
%

2011/12
%

2012/13
%

Small profits rate

0 - 300,000

21

20

20

Effective marginal rate

300,001 - 1,500,000

29.75

27.50

25

Standard fraction
(marginal relief fraction)

7/400

3/200

1/100

Main rate of Corporation Tax

Over 1,500,000

28

26

24

Profit limits are reduced for a company with associated companies, and for accounting periods of less than 12 months.
Main tax rate for Corporation Tax is to reduce to 23% for 2013/14 and 21% for 2014/15.

 
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