From 1 April 2017, the corporation tax rate has been cut to 19% from 20% for the tax year 2017/18, with plans to cut it further to 17% from April 2020 as announced as part of spring Budget 2017
The corporation tax rate continues to be cut to support investment, growth and job creation with the UK having the lowest corporation tax in the G20, benefitting over one million businesses.
In 2008, before the crash, corporation tax was set at 28% showing a massive fall in the rate to achieve the current 19% rate.
The rates for corporation tax years starting 1 April 2017 are here:
| Rate | 2017 | 2016 | 2015 | 2014 |
| Small profits rate (companies with profits under £300,000) | - | - | - | 20% |
| Main rate (companies with profits over £300,000) | - | - | - | 21% |
| Main rate (all profits except ring fence profits) | 19% | 20% | 20% | - |
| Marginal Relief lower limit | - | - | - | £300,000 |
| Marginal Relief upper limit | - | - | - | £1.5m |
| Standard fraction | - | - | - | 1/400 |
| Special rate for unit trusts and open-ended investment companies | 20% | 20% | 20% | 20% |
Rates and allowances: Corporation Tax is available here.
