What is Corporation tax? Corporation tax rates in UK

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    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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