Budget 2004

Grant Thornton


Business Taxation

Grant Thornton

Corporation Tax (Corporate Tax)

Year to
31 March 2004 and 2005
Starting rate*†
0%
  profits up to
£10,000
 
Marginal relief band
  lower limit
£10,000
  upper limit
£50,000
  marginal rate
23.75%
  marginal relief fraction
19/400
 
Small companies rate*
19%
  lower limit
£50,000
  upper limit
£300,000
 
Marginal relief band
  lower limit
£300,000
  upper limit
£1,500,000
  marginal rate
32.75%
  marginal relief fraction
11/400
 
Full Rate
30%

Profit limits reduced for a company in a group or with associated companies

* Not available to close investment holding companies
For profits distributed after 31 March 2004 a minimum rate of 19% applies

The figures shown here are subject to ammendment as the Finance Bill passes through Parliament.

This information has been prepared only as a topical guide to tax and personal financial matters. No responsibility can be accepted by us for loss occasioned to any person acting or refraining from acting as a result of any material contained in this publication.

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