Young
& Co.
CHARTERED ACCOUNTANTS AND REGISTERED AUDITORS
Corporation Tax Information
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Individuals pay tax on their income
(including
employment, self-employment and partnerships) via income tax.
Limited Companies have to pay a tax on the profit they make
(after
various adjustments and allowances). This tax is referred to as
Corporation Tax and is payable by Limited Companies. Individuals, Sole-traders and
partnerships do not pay this tax. The rates of tax are detailed below
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Taxable profit between £1 and £300,000 |
21% |
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Taxable profit between £300,001 and £1,500,000 |
28% less a marginal relief claim |
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Taxable profit over £1,500,000 |
28% |
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| More information is
available from the Revenue web site
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| * All figures quoted are based on the 2008/2009 tax year | |||
