Corporation Tax is a tax on the taxable profits of limited companies and other organisations including clubs, societies, associations and other unincorporated bodies.<strong> </strong>

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<strong><span style="text-decoration: underline;">Payment deadlines </span></strong>
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	<li>If your company or organisation's taxable profits are <strong><span style="text-decoration: underline;">£1.5 million or less</span></strong></li>
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You must pay your Corporation Tax by the normal due date, which is nine months after the end of your Corporation Tax accounting period.

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	<li>If your company or organisation's taxable profits are more <strong><span style="text-decoration: underline;">than £1.5 million</span></strong></li>
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You must normally pay your Corporation Tax for that period in instalments.

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Corporation Tax Rates
<table width="590" border="1" cellspacing="0" cellpadding="0">
<tbody>
<tr>
<td valign="top" width="295">Rate</td>
<td valign="top">2011</td>
<td valign="top">2012</td>
<td valign="top">2013</td>
<td valign="top">2014</td>
</tr>
<tr>
<td valign="top" width="295">Small Profits Rate*</td>
<td valign="top">20%</td>
<td valign="top">20%</td>
<td valign="top">20%</td>
<td valign="top"></td>
</tr>
<tr>
<td valign="top" width="295">Small Profits Rate can be claimed by   qualifying companies with profits at a rate not exceeding</td>
<td valign="top">£300,000</td>
<td valign="top">£300,000</td>
<td valign="top">£300,000</td>
<td valign="top"></td>
</tr>
<tr>
<td valign="top" width="295">Marginal Relief Lower Limit</td>
<td valign="top">£300,000</td>
<td valign="top">300,000</td>
<td valign="top">£300,000</td>
<td valign="top"></td>
</tr>
<tr>
<td valign="top" width="295">Marginal Relief Upper Limit</td>
<td valign="top">1,500,000</td>
<td valign="top">1,500,000</td>
<td valign="top">1,500,000</td>
<td valign="top"></td>
</tr>
<tr>
<td valign="top" width="295">Standard fraction</td>
<td valign="top">3/200</td>
<td valign="top">1/100</td>
<td valign="top">3/400</td>
<td valign="top"></td>
</tr>
<tr>
<td valign="top" width="295">Main rate of Corporation Tax*</td>
<td valign="top">26%</td>
<td valign="top">24%</td>
<td valign="top">23%</td>
<td valign="top">21%</td>
</tr>
<tr>
<td valign="top" width="295">Special rate for unit trusts and open-ended investment companies</td>
<td valign="top">20%</td>
<td valign="top">20%</td>
<td valign="top">20%</td>
<td valign="top"></td>
</tr>
</tbody>
</table>
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