Tax Information
Tax Rates for Corporation Tax
Tax Information
Corporation Tax:
| Rate | 2020 | 2019 | 2018 | 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% | 19% | 19% | 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% | 20% | 20% | 20% |
For more information, visit the HMRC website: http://www.hmrc.gov.uk/rates/corp.html
Reproduced under the Open Government License – http://www.hmrc.gov.uk/copyright/
Ring fence companies
*There are different Corporation Tax rates for companies that make profits from oil extraction or oil rights in the UK or UK continental shelf. These are known as ‘ring fence’ companies. The small profits rate of tax on those profits is 19% and the ring fence fraction is 11/400. The main rate is 30%.
Corporation Tax on chargeable gains
If you sell or dispose of a business asset, you’ll need to pay Corporation Tax on any profits (or ‘chargeable gains’).
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Resources & Calculators
Useful Resources for Tax Planning
Personal Allowances
Personal Allowance is the amount of income a person can get before they pay tax. You can find the tables here.
National Insurance Thresholds
Personal, Self Employed and Employee National Insurance rates.
Coporation Tax
Tax rates for Corporation Tax.
Inheritance Tax
Tax rates for Inheritance Tax.
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