CORPORATE TAX RATES – 2013-14
Rates for financial years starting on 1 April
Rate | 2013 |
|---|---|
| Small profits rate* | 20%* |
| Small profits rate can be claimed by qualifying companies with profits
at a rate not exceeding | £300,000 |
| Marginal Relief Lower Limit | £300,000 |
| Marginal Relief Upper Limit | £1,500,000 |
| Standard fraction | 3/400 |
| Main rate of Corporation Tax* | 23% * |
| Special rate for unit trusts and open-ended investment companies | 20% * |
* Rate for Ring fence companies is different, please contact us for details. Marginal tax relief formula: (Upper limit * Less Profit for the period) Multiply (Standard fraction of the year) *Upper limit is to be apportioned by number of days if the taxable period is not a full year. > The profit limits are reduced for accounting periods of less than 12 months and for a company with associated companies. At BNW we can do full tax planning for you, we are only a call away from you so please follow the link to contact us .
