Corporation Tax
| Corporation Tax On Profits - £ per year (unless stated) | ||
|---|---|---|
| Rate | Financial Year to 31/3/2013 | Financial Year to 31/3/2012 |
| Small companies rate | 20% on first £300,000 | 20% on first £300,000 |
| Marginal relief | 300,001 - 1,500,000 | 300,001 - 1,500,000 |
| Marginal relief fraction | 1/200 | 3/200 |
| Effective marginal rate | 25% | 27.5% |
| Main rate | 24% on £1,500,001 or more | 26% on £1,500,001 or more |
| The profits limits are reduced for accounting periods of less than 12 months and for a company with associated companies. | ||
| It has been announced the main companies rate will decrease to 23% from 1st April 2013 and 21% from 1st April 2014. | ||