Corporation tax and capital allowances

CORPORATION TAX From 1.4.14 From 1.4.13
Small Companies Rates
(£0 - £300,000)
20% 20%
£300,001 - £1,500,000 Marginal relief Marginal relief
Full rate (£1,500,001+) 21%* 23%

* Reducing to 20% from 1 April 2015.

Corporation tax payments

  • Small companies: tax due 9 months and 1 day after end of accounting period.
  • Large companies: tax due in quarterly instalments from 6 months and 13 days after start of accounting period.

CAPITAL ALLOWANCES

  2014-2015 2013-2014
Plant and Machinery  
Annual Investment Allowance:  Rate 100%  100% 
   Limit  £500,000* £250,000 
Writing down allowance:  
General pool   18% 18%
Special rate pool   8% 8%
Energy saving and water efficient equipment   100%  100% 
Motor cars - new cars only:      
CO2 emissions up to 95g/km   100% 100% 
CO2 emissions 96 to 130g/km   18% 18%
CO2 emissions above 130g/km   8% 8%

* Increased to £500,000 until 31 December 2015.

Download

Download our 2014 - 2015 Tax Rate card

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