From 1 April 2014 to 31 March 2015 the main rate of corporation tax is 21% where a company’s profits exceed £1,500,000 (divided by companies under common control). The 20% small profits rate continues to apply to companies with profits up to £300,000 (also divided as above). As previously announced a single corporation tax rate of 20% will apply from April 2015 whatever your level of profits.
If you have any queries please contact Sue Stephens or John Elliott.
For the full 2014 Budget Summary please click this link BWM 2014 Budget Report
