Corporation Tax
Corporation tax rates and bands are as follows:
| Financial Year Commencing |
1 April 2001 |
|
1 April 2000 |
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|
|
|
|
|
| Taxable profits |
|
|
|
|
|
| |
|
|
|
|
|
| First |
£10,000 |
10% |
|
£10,000 |
10% |
| Next |
£40,000 |
22.5% |
|
£40,000 |
22.5% |
| Next |
£250,000 |
20% |
|
£250,000 |
20% |
| Next |
£1,200,000 |
32.5% |
|
£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.
Did you know?
That the Treasury expects the revenue from corporation tax to increase by over 15% this year. Corporation tax is expected to yield over £37 billion for the Treasury this year.
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