Corporation Tax is the tax paid by Limited Companies on their taxable profits. The rate of tax on all profits is 19%. Please see below the table along with comparative years tax rates.
Rates for Corporation Tax years starting 1 April
There are different rates for ring fence companies
| Rate | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|
| Small profits rate (companies with profits under £300,000) | – | – | – | 20% |
| Main rate (companies with profits over £300,000) | – | – | – | 21% |
| Main rate (all profits except ring fence profits) | 19% | 20% | 20% | – |
| Marginal Relief lower limit | – | – | – | £300,000 |
| Marginal Relief upper limit | – | – | – | £1,500,000 |
| Standard fraction | – | – | – | 1/400 |
| Special rate for unit trusts and open-ended investment companies | 20% | 20% | 20% | 20% |
From 1 April 2015, there is a single tax rate of 20% for non-ring fence profits.
