Corporation tax is payable on your taxable profits if you are a limited company, or an unincorporated association such as a club or co-operative.
Foreign companies with an office or branch in the UK are liable for Corporation Tax on the profits from activities in the UK.
The current rate of Corporation Tax is 20%, from 1st April 2015.
(in the July 2015 budget the Chancellor annouced rates of 19% for 2017 and 18% by 2020, these are included below for comparison)
Previous years had different tax bands based on the amount of profit (see table below), this will be taken into account for the relevant calculation. The earliest date this calculator goes back to is 1st April 2012
Tax Year: the governments tax year is from 1st April to 31st March the following year. If your financial year is different to this then the tax will be calculated in proportion against the governments period.
Calculations can be saved to a table by clicking the "Add to Table" button.
(The table appears the first time the button is clicked)
There is also the option to create a PDF document
|01/04/2015 to 31/03/2016||Current Rate||20 %|
|01/04/2014 to 31/03/2015||Small Profits Rate (£300,000 or lower)||20 %|
|Main Rate (over £300,000)||21 %|
|01/04/2013 to 31/03/2014||Small Profits Rate (£300,000 or lower)||20 %|
|Main Rate (over £300,000)||23 %|
|01/04/2012 to 31/03/2013||Small Profits Rate (£300,000 or lower)||20 %|
|Main Rate (over £300,000)||24 %|