Budget 2004
Business Taxation
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.
