Budget 2004 - Back to Menu

Corporation Tax   Year to 31.3.2005 & 31.3.2004   Main rate 30%   Profits above £1.5m     Small companies rate 19%   Profits between £50k - £300k     Starting rate 0%   Profits below £10k     Small/large marginal band £300k - £1.5m   Fraction (effective rate) 11/400 (32.75%)     Starting/small marginal band £10k - £50k   Fraction (effective rate) 19/400 (23.75%)     Minimum rate on profits distributed after 31 March 2004 is 19%.