pound sign
Freedman Frankl & Taylor
Reedham House
31 King Street West
Manchester
M3 2PJ
tel: 0161 834 2574
fax: 0161 831 7608
email: info@fft.co.uk

uk 200 group

UK200 Group is an association of separate and independently owned and managed accountancy and lawyer firms

Corporation Tax

Corporation tax rates and bands are as follows:

Financial year to 31 March 2012 31 March 2011
Taxable profits    
First £300,000 20% 21%
Next £1,200,000 27.5% 29.75%
On profits over £1,500,000 26% 28%
Tax credit on dividends 10% 10%
Marginal relief fraction 3/200 7/400

Corporation tax payable

For small and medium sized companies

- Nine months and one day after the end of the accounting period

For large companies

- Instalments

The 14th day of the seventh, tenth, 13th and 16th months after the commencement of a 12 month accounting period

- Balance

Nine months and one day after the end of the accounting period

2012 and beyond

Main rate Small profits rate
Financial year to 31 March 2013 25% N/K
Financial year to 31 Marc\h 2014 24% N/K
Financial year to 31 March 2015 23% N/K

N/K = Not known