free resources > rates & allowances  
 


 
If you are running a limited company, corporation tax is levied on your profits, which is your total sales less allowable expenses, plus investment income.

We are best placed to advise you how to minimise the effects of corporation tax.


Years to 31.3.09
Years to 31.3.08
Profits Band
£
Rate
%
Profits Band
£
Rate
%
Small companies rate
0 - 300,000
21*
0 - 300,000
20
Marginal (small companies) rate
300,001 - 1,500,000
29.75*
300,001 - 1,500,000
32.50
Full rate
Over 1,500,000
28*
Over 1,500,000
30
Small companies fraction
7/400*
1/40

The profits limits are reduced for accounting periods of less than 12 months and for a company with associated companies.

*Different rates apply for ring-fenced (broadly oil industry) profit.