UK CORPORATION TAX RATES FOR 2014, 2013, 2012 & 2011

 

  Year 2014 Year 2013 Year 2012 Year 2011
Small Profits Rate   20% 20% 20%
Profit limit to qualify small profit rates 300,000 300,000 300,000 300,000
Marginal Relief Lower Limit  300,000 300,000 300,000 300,000
Marginal Relief Upper Limit  1,500,000 1,500,000 1,500,000 1,500,000
Standard Fraction 1/400 3/400 1/100 3/200
Main Rate of Corporation Tax 21% 23% 24% 26%
Special Rate for Unit Trust and open ended Financial Companies  20% 20% 20% 20%

 

Notes:

When Profits (including ring fence profits) are at a rate exceeding 1,500,000 the main tax rate of Corporation Tax Applies, or it applies where there is no claim to another rate or where another rate does not apply.

 

The main rate of Corporation Tax for 2015 is set at 20% in addition to the rates given in the above table.

 

From April 2015 there will be only one Corporation Tax Rate for non-ring fence profits and the small profits rates will be unified with the main rate set at 20%.  

 

The rates differ for those companies with ring fence profit (income and gains from oil extraction activities or oil rights in the UK and UK Continental shelf). Small profit tax on those profits is 19% and the ring fence fraction is 11/400 for financial year starting from April 2011, 2012, 2013 and 2014. The Main rate is 30% for financial year starting on 1st April 2011, 2012, 2013 and 2014.

 

When calculating the chargeable gains of companies or organizations, indexation allowance is allowed for the effects of inflation.

 

Figures are indicative only. Please recheck it with respective department for maximum accuracy and updated figures.

 

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