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Corporation Tax Rates – 2011/12

October 6, 2011

This is the Corporation Tax rate table for the 2011/12 tax year (starting 1st April).

The Chancellor surprised the business world with a 2% drop in the main rate of Corporation Tax from 28% to 26% during his 2011 Budget speech.

The main rate will be reduced further to 25% in the 2012/13 financial year. Eventually, a merger of the main and small profits rates is likely given the Coalition’s determination to simplify the tax system.

The small profits tax rate falls from 21% to 20% from April 1st 2011.

£ per year 2010-11 2011-12
£0-£300,000 21% 20%
£300,001 – £1,500,000 Marginal relief Marginal relief
£1,500,001 or more 28% 26%

For more information on registering your small business for corporation tax, and how tax is collected, try our guide to corporation tax.