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Home > > 2009/10 rates and allowances > Corporation tax

Corporation tax

Corporation tax rates and bands are as follows:

Financial year to 31 March 2010
Taxable profits  
First £300,000 21%
Next £1,200,000 29.75%
On profits over £1,500,000 28%
Tax credit on dividends 10%
Marginal relief fraction 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

Did you know?

That the Government expects to receive £34.7 billion from Corporation Tax in the current tax year (2008/09 £43.4 billion)