Budget 2011 Corporation Tax
Published / Last Updated on 24/03/2011
Corporation Tax Rates from 01/04/2011
- Small profits rate of corporation tax for companies with profits up to £300,000 will be reduced to 20%
- Companies with profits of £1,500,000 or more corporation reduced to 26% not 27%. This means that for the financial year starting 1 April 2014 the rate will have reduced to 23%.
- Between £300,001 and £1,500,000 marginal rate relief applies 27.5%.
The Controlled Foreign Company (CFC) regime is to be reformed with a consultation to be published in May 2011 and draft legislation in Autumn 2011.
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