What is Corporate Income Tax Rates in UK? Tax Rates for 2011, 2012, 2013, 2014 in United Kingdom (Briton)

 

 

United Kingdom (UK) Corporation Tax Rates for 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

Marginal Relief Lower Limit

 

?300,000

?300,000

?300,000

Marginal Relief Upper Limit

 

?1,500,000

?1,500,000

?1,500,000

Standard Fraction

 

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%

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 and 2013. The Main rate is 30% for financial year starting on 1st April 2011, 2012 and 2013.

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.

 

PAN

Income Tax PAN FAQ, Answers & Guidance

Tax Audit

What is the turn over limit for tax audit? Who needs to get audited the accounts under section 44AB?

Taxation on Charitable Trust and NGO

What is authority structure in case of Charitable Trust, Charitable Society, Non Governmental Organizations (NGO), Section 25 Companies and other exempted institutions?

What is the definition of Charitable Purpose? Section 2(15) of Income Tax Act- Relief to poor, Education, Medical Relief, other public utility services- Latest amendments

How to register with Income tax under Section 12A by NGO, Section 25 Company, Charitable Trust and Society? Is it necessary to Register?

What is approval u/s 80G(5)? Is it necessary for a charitable Institution? How to apply for it? What is the use of approval u/s 80G(5) for Charitable Trust, Charitable Society, Non Governmental Organizations (NGO), Section 25 Companies and other exempted institutions?

Is exemption of Income to NGO, Section 25 Company, Charitable Trust and Society can forfeiture? Provision in Section 13 for forfeiture of Exemption

What is notification u/s 35(1)(ii)/(iii)? How to apply by scientific research association, a university, college or other institutions? What is the use?

What are the modes and forms of Investment specified u/s 11(5) in the case of Charitable Trust, NGO, Charitable Society, Section 25 Companies and Charitable entities

How Charitable Institutions are assessed for Income Tax? Accumulation of surplus and utilization of NGO, Section 25 Company, Charitable Trust and Society

Who are interested persons in the case of Charitable Trust, NGO, Charitable Society, Section 25 Companies and Charitable entities? Who are relatives? List of interested persons and relatives

 

Home     About Us     Privacy Policy     Disclaimer    Contact Us  Sitemap