Corporation Tax is a tax on the taxable profits of limited companies and other organisations including clubs, societies, associations and other unincorporated bodies.
Payment deadlines
- If your company or organisation’s taxable profits are £1.5 million or less
You must pay your Corporation Tax by the normal due date, which is nine months after the end of your Corporation Tax accounting period.
- If your company or organisation’s taxable profits are more than £1.5 million
You must normally pay your Corporation Tax for that period in instalments.
Corporation Tax Rates
| Rate | 2010 | 2011 | 2012 | 2013 |
| Small Profits Rate* | 21% | 20% | 20% | |
| Small Profits Rate can be claimed by qualifying companies with profits at a rate not exceeding | £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 | 7/400 | 3/200 | 1/80 | |
| Main rate of Corporation Tax* | 28% | 26% | 25% | 24% |
| Special rate for unit trusts and open-ended investment companies | 20% | 20% | 20% | 20% |