Rates for financial
years starting on 1 April
| Financial Year To |
31
March 2012
|
31
March 2011
|
| Taxable Profits | . | . |
| Small Companies Rate - £0 - £300,000 |
20%
|
21%
|
| £300,001 - £1,500,000 |
27.5%
|
29.75%
|
| Full Rate - Over £1,500,000 |
26%
|
28%
|
The corporation tax full rate will be cut by 1% a year over the next three
years to 23%
Save: You may save tax by trading through a company. Profits retained
in a company may be taxed at 20% - compared with up to 50% income tax plus
NIC