Corporation Tax Rates 2024

Corporation Tax Rates 2024 for UK Limited Companies

Corporate Tax Year 2024   (01/04/2024 to 31/03/2025).  The following information is intended to be a guide and is not a substitute for advice. 

Rates of Tax for Companies With Financial Year End to 31 March 2025

• Small Companies Rate - Profits from £1 up to £50,000.00 = 19.00%
• Marginal Rate on profits between £50,000.00 and £250,000.00 = 26.50%
• Main Rate - on ALL PROFITS £1 to £250,000.00, where profits exceed £250,000.00 = 25.00%

Example Corporation Tax Calculations:

Company A Profits 2024 -  £250,000

• £50,000 at Small Profits Rate 19% = £9,500 tax.
• £200,000 at Marginal Rate 26.5% = £53,000 tax.
• Total Corporation Tax Bill = £62,500  (fraction is accurate as £250,000 at main rate 25% = £62,500).
• Compare this to 2023's rate at 19% = £47,500.

Company B Profits 2024 -  £100,000

• £50,000 at Small Profits Rate 19% = £9,500 tax.
• £50,000 at Marginal Rate 26.5% = £13,250 tax.
• Total Corporation Tax Bill = £22,750  (effective rate of corporation tax 22.75%).
• Compare this to 2023's rate at 19% = £19,000.

Company C Profits 2024 -  £300,000

• Profits exceed £250,000 therefore, all profits are taxed at 25%.
• £300,000 at Main Rate 25% = £75,000 tax.
• Total Corporation Tax Bill = £75,000.
• Compare this to 2023's rate at 19% = £57,000.