Corporation Tax
Corporation tax rates and bands are as follows:
| Financial Year Commencing |
1 April 2002 |
|
1 April 2001 |
| |
|
|
|
|
|
| Taxable profits |
|
|
|
|
|
| |
|
|
|
|
|
| First £10,000 |
0% |
|
|
£10,000 |
10% |
| Next £40,000 |
23.75% |
|
|
£40,000 |
22.5% |
| Next £250,000 |
19% |
|
|
£250,000 |
20% |
| Next £1,200,000 |
32.75% |
|
|
£1,200,000 |
32.5% |
| On profits over £1,500,000 |
30% |
|
|
£1,500,000 |
30% |
Did you know?
That around 10% of companies pay corporation tax at the main rate of 30% - and that those companies contribute about 85% of the total yield.
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