Corporation Tax Rates

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Corporation Tax Rates

If you are looking at Corporation Tax Rates or planning your finances, please feel free to contact us. We can discuss your specific circumstances to help you plan tax efficiently.

Rates for financial years starting on 1 April

Main rate of Corporation Tax

Year	2019	2020	2021
Rate	19%	19%	19%

Ring Fence Companies

For companies with Ring Fence profits (income and gains from oil extraction activities or oil rights in the UK and UK Continental Shelf} these rates differ. The small profits rate of tax on those profits is 19 per cent and the Ring Fence fraction is 11 /400 for financial years starting on or after 1 April 2011. The main rate is 30 per cent for financial years starting on or after 1 April 2011.

Corporation Tax on Chargeable Gains

Indexation Allowance allows for the effects of inflation when calculating the chargeable gains of companies or organisations liable to Corporation Tax.

When a company makes a capital gain on or after 1 January 2018, the indexation allowance that is applied in order to determine the amount of the chargeable gain will be calculated up to December 2017 rather than the month in which the disposal of the asset occurs.

Our service to you

If you are a self employed, business owner/director of company looking to get your accountancy and taxation matters sorted, look no further. We are pro-active and easily accessible accountants and tax advisors, who will not only ensure that all your filing obligations are up to date with Companies House and HMRC, but also you do not pay a penny more in taxes than you have to. We work on a fixed fee basis and provide same day response to all your phone and email enquiries. We will also allocate a designated accounts manager who would have better understanding of your and business financial and taxation affairs. Book a free consultation call using the link below.