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Home > > 2008/09 Rates and Allowances > Corporation Tax
Corporation Tax
Corporation tax rates and bands are as follows:
| Financial Year to | 31 March 2009 | 31 March 2008 |
| Taxable profits | ||
| First £300,000 | 21% | 20% |
| Next £1,200,000 | 29.75% | 32.5% |
| On profits over £1,500,000 | 28% | 30% |
| Tax credit on dividends | 10% | 10% |
| Marginal relief fraction | 7/400 | 1/40 |
Corporation Tax Payable
For small and medium sized companies
- Nine months and 1 day after the end of the accounting period
For large companies
- Instalments
- The 14th day of the seventh, tenth, 13th and 16th months after the commencement of a 12 month accounting period
- Balance
- Nine months and one day after the end of the accounting period
April 2009 and Beyond
The small companies' rate will be 22% from 1 April 2009.
Did you know?
That the Government expect to raise £51.3 billion in corporation tax receipts. This represents an increase of more than 10% compared to the estimated net yield of £46.4 billion in the last tax year.
2008/09 Rates and Allowances
Main taxes
- Key dates and deadlines
- Income tax
- Corporation tax
- Inheritance tax
- Capital gains tax
- Value added tax
- NI contributions
- Residential property letting taxation
- Main capital allowances
- Business deductions
- Penalties for late returns
- Trusts & settlements
- Non domiciled individuals
Vehicles
Savings
Other taxes
Giving, credits and benefits
Regulated for a range of investment business activities by The Association of Chartered Certified Accountants
