English German
HomeAbout UsLinksTermsPrivacyLog-In
Company Formation UK
Company Formation
Ready-Made Company
Company Info
Company Name Search
Company Searches
Company Packs
Company Tax Info
FAQ
Accountancy Services
Third Party Vendors
Price List
Companies House Forms
Contact
Log-In

UK Corporation and Income tax

Below are the both UK corporation tax and Income tax rates for 2007-2010.

What is Corporation Tax?

Corporation Tax is a tax on your limited company's taxable income or profits over a twelve month accounting period.

For Corporation Tax, your limited company must work out their own tax liability, pay their tax without prior assessment by the Inland Revenue
and deliver a return by the statutory filing date.

Income Tax allowances table

Income Tax allowances

2007-08

2008-09

2009-10

Personal Allowance

£5,225

£6,035

£6,475

Personal Allowance for people aged 65-74 (1)

£7,550

£9,030

£9,490

Personal Allowance for people aged 75 and over (1)

£7,690

£9,180

£9,640

Married Couple's Allowance (born before 6th April 1935 but aged under 75) (1)(2)(3)

£6,285

£6,535

Not applicable

Married Couple's Allowance - aged 75 and over (1) (2)

£6,365

£6,625

£6,965

Income limit for age-related allowances

£20,900

£21,800

£22,900

Minimum amount of Married Couple's Allowance

£2,440

£2,540

£2,670

Blind Person's Allowance

£1,730

£1,800

£1,890

 

Corporation Tax Rates for financial years starting on 1 April


Small Companies Rate*
19%
20%*
21%*
21%*

Small Companies Rate can be claimed by qualifying companies with profits at a rate not exceeding

£300,000

£300,000
£300,000

£300,000

Marginal Small Companies Relief Lower Limit

£300,000

£300,000
£300,000

£300,000

Marginal Small Companies Relief Upper Limit

£1,500,000

£1,500,000
£1,500,000

£1,500,000

Marginal Small Company Relief (MSCR) Fraction

11/400

1/40
7/400

7/400

Main rate of Corporation Tax

30%

30%
28%*

28%*

Special rate for unit trusts and open - ended investment companies

20%

20%
20%

20%

 

 

 

^ Top of the page

FREEPHONE
0800 071 2222

PLACE YOUR COMPANY FORMATION ORDER NOW

COMPANIES HOUSE FORMS
Forms available for modifying your company formation.
More...

CHOOSE YOUR COMPANY NAME
Before you complete your online limited company formation. Find out about choosing a company name.
Click Here ...

THIRD PARTY VENDORS
Become a third Party Vendor of Limited Companies. Open an account now!
Click Here ...

READY MADE COMPANY FORMATIONS
Order today!
Click Here ...

 

©1988 - 2005 Companies Limited, 167 Earls Court Rd, London, SW5 9RF

HomeAbout UsSite MapTermsPrivacy