Corporation Tax
The below table shows an overview of the current tax rates.
This is not an exhaustive list and does not show all restrictions and allowances.
| Financial Year to | 31-Mar-09 | 31-Mar-08 |
| Taxable profits | ||
| First £300,000 | 21% | 20% |
| Next £1,200,000 | 29.75% | 32.50% |
| On profits over £1,500,000 | 28% | 30% |
| Tax credit on dividends | 10% | 10% |
| Marginal relief fraction | 7/400 | 1/40 |
Corporation for small companies is currently payable by 9 months and 1 day after the end of the accounting period.
If you would like more information on the above rates or Corporation Tax in general, please contact Harrisons Accountancy.