J Allen & Co   

Chartered Accountants, Registered Auditors, Business & Tax Advisers

"Its About Adding Value To Your Business Not Just Adding Up Numbers"

 

Tax Rates

 

 

 

 Business Taxation

 

 Corporation tax rates

Corporation tax rates and bands are as follows:

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

As previously announced the main rate of corporation tax will reduce to 25% from 1 April 2012.

Marginal rates apply for profits between £300,000 and £1,500,000 with the small companies relief fraction being set at 7/400.

 Capital allowances

The annual investment allowance on first £100,000 investment (excluding cars and expenditure already qualifying for 100% first year allowances).

Energy saving environmentally beneficial equipment, electric and low CO2 emission cars, natural gas/hydrogen refuelling equipment first year allowance 100%

Cars writing down allowance

111g/km—160g/km                                                                    20%

Over 160g/km                                                                              10%

WDA: other plant and machinery                                              20%

Phone: 0845-094-5354

Fax: 0870-803-3843

E-mail: info@jallen-accountants.co.uk

Tax Rates Pages