Corporation tax and capital allowances
| CORPORATION TAX | From 1.4.13 | From 1.4.12 |
|---|---|---|
| Small Companies Rates (£0 - £300,000) |
20% | 20% |
| £300,001 - £1,500,000 | Marginal relief | Marginal relief |
| Full rate (£1,500,001+) | 23%* | 24% |
* Reducing to 21% from 1 April 2014 and 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 |
2013-2014 | 2012-2013 | |
| Plant and Machinery | |||
| Annual Investment Allowance: | Rate | 100% | 100% |
| Limit | £250,000 | £25,000* | |
| 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 95(110) g/km | 100% | 100% | |
| CO2 emissions 96(111) to 130(160)g/km | 18% | 18% | |
| CO2 emissions above 130(160)g/km | 8% | 8% |
* Increased to £250,000, for a two year period from 1.1.2013.
Download
Click here to download our 2013 - 2014 Tax Rate card
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