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What is Corporation tax? Corporation tax rates in UK

< 1 min read

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.

 

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