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Retained

  • Statutory Tax Rate 19
  • Surtax Based on Taxable Income 0
  • Surtax Based on Statutory Tax 0
  • Surtax Deductible from Taxable Income 0
  • Statutory Tax Deductable 0
  • Effective Tax Rate 19

Statutory Tax Rate

The standard corporate tax rate is 19%.

Effective Tax Rate

The main rate is reduced to 24% for the financial year starting 1 April 2012, 23% for the financial year starting 1 April 2013, 21% for the financial year starting 1 April 2014 and 20% for the financial year starting 1 April 2015. A reduced rate of 20% applied to small companies (i.e. companies with taxable profits of less than GBP 300,000) up to 1 April 2015, when the standard rate was reduced to 20%. Companies with taxable profits between GBP 300,000 and GBP 1.5 million prior to 1 April 2015 were effectively taxed on a sliding scale at an average rate between the main rate and the small profits rate.
Under the Finance (No. 2) Act 2015, the UK will reduce the main rate of corporation tax to 19% for the 2017, 2018 and 2019 financial years and to 18% for the 2020 financial year.