Corporate Tax Rates

If You are looking at Corporation Tax Rates or planning your finances, please feel free to contact us. We can chat through your specific circumstances to help you plan your tax efficiently.

Rates for financial years starting on 1 April

Small Profits rate*

2011 2012 2013 2014 2015
20% 20% 20% 20% N/A#

# From 1st April 2015, all companies (other than Ring Fence Companies) will pay corporation tax at the main rate of corporation tax.

Small profits rate can be claimed by qualifying companies with profits at a rate not exceeding

2011 2012 2013 2014 2015
£300,000 £300,000 £300,000 £300,000 N/A

Marginal Relief Lower Limit

2011 2012 2013 2014 2015
£300,000 £300,000 £300,000 £300,000 N/A

Marginal Relief Upper Limit

2011 2012 2013 2014 2015
£1,500,000 £1,500,000 £1,500,000 £1,500,000 N/A

Standard Fraction

2011 2012 2013 2014 2015
3/200 1/100 3/400 1/400 N/A

Main rate of Corporation Tax

2011 2012 2013 2014 2015
26% 24% 23% 21% 20%

Special rate for unit trusts and open-ended investment companies

2011 2012 2013 2014 2015
20% 20% 20% 20% 20%

Main rate of Corporation Tax

The main rate of Corportaion Tax applies when  profits (including ring fence profits) are at a rate exceeding £1,500,00-, or where there is no claim to another rate, or where there is no claim to another rate, or where another rate does not apply. From 1 April 2015 all companies (other than Ring Fence Companies) will pay corporation tax on all profits at the main rate of corporation tax.

Ring Fence Companies

*For companies with ring Fence Profits (income and gains from oil extraction activities or oil rights in the UK and UK Continental Shelf) these rates differ. The small profits rate of tax on those profits is 19 per cent and the ring fence fraction is 11/400 for financial years starting 1 April 2011, 2013 and 2014.

Corporation Tax on Chargeable Gains

Indexation Allowance allows for the effects of inflation when calculating the chargeable gains of companies or organisations.

Please contact us for further information

Disclaimer:

The information given have been provided as a helpful reference point. The Tax Rates provide a guide only and your specific circumstances are best discussed directly with us.

No action should be taken without seeking the appropriate professional or legal advice. The authors accept no responsibility whatsoever for any loss occasioned by anyone acting on information within this webpage.