If you are a limited company or an unincorporated association, such as a club or co-operative, then your taxable profits are subject to corporation tax. If a foreign company has an office or department in the United Kingdom then they are subject to Corporation Tax on all of the profits they make from their activities in the United Kingdom.
As of the 1st of April in 2015, Corporation Tax has risen to 20%, although in July of 2015 the Chancellor announced that based on budgets, the rate of Corporation Tax will drop to 19% in 2017 and 18% in 2020.
The previous years also had different tax bands which are based of how big of a profit was made, which will be taken into consideration with the calculation. The earliest possible date that the calculator can date back to is the 1st of April of 2012.
Tax Year: a regular government tax year starts on April the 1st and ends on the 31st of March of the next year. If it so happens that your companies financial year differs from the government's financial year then the necessary tax will be calculated proportionally against the government's tax year period.
This calculator uses the following rates:
| Financial Period | Details | Rate |
|---|---|---|
| 01/04/2020 to 31/03/2021 | Current Rate | 19 % |
| 01/04/2019 to 31/03/2020 | Main Rate | 19 % |
| 01/04/2018 to 31/03/2019 | Main Rate | 19 % |
| 01/04/2017 to 31/03/2018 | Main Rate | 19 % |
| 01/04/2016 to 31/03/2017 | Main Rate | 20 % |
| 01/04/2015 to 31/03/2016 | Main Rate | 20 % |
| 01/04/2014 to 31/03/2015 | Small Profits Rate (£300,000 or lower) | 20 % |
| Main Rate (over £300,000) | 21 % | |
| 01/04/2013 to 31/03/2014 | Small Profits Rate (£300,000 or lower) | 20 % |
| Main Rate (over £300,000) | 23 % | |
| 01/04/2012 to 31/03/2013 | Small Profits Rate (£300,000 or lower) | 20 % |
| Main Rate (over £300,000) | 24 % |
| Tax Payable | ||||
|---|---|---|---|---|
| Period | Taxable Amount | Tax Rate (%) | Tax Due | Balance |
| Totals | ||||
| 2020 and 2021 comparison | ||||
| 2020 Tax Rate | ||||
| 2021 Tax Rate | ||||
If you are a limited company or an unincorporated association, such as a club or co-operative, then your taxable profits are subject to corporation tax. If a foreign company has an office or department in the United Kingdom then they are subject to Corporation Tax on all of the profits they make from their activities in the United Kingdom.
As of the 1st of April in 2015, Corporation Tax has risen to 20%, although in July of 2015 the Chancellor announced that based on budgets, the rate of Corporation Tax will drop to 19% in 2017 and 18% in 2020.
The previous years also had different tax bands which are based of how big of a profit was made, which will be taken into consideration with the calculation. The earliest possible date that the calculator can date back to is the 1st of April of 2012.
Tax Year: a regular government tax year starts on April the 1st and ends on the 31st of March of the next year. If it so happens that your companies financial year differs from the government's financial year then the necessary tax will be calculated proportionally against the government's tax year period.
This calculator uses the following rates:
| Financial Period | Details | Rate |
|---|---|---|
| 01/04/2020 to 31/03/2021 | Current Rate | 19 % |
| 01/04/2019 to 31/03/2020 | Main Rate | 19 % |
| 01/04/2018 to 31/03/2019 | Main Rate | 19 % |
| 01/04/2017 to 31/03/2018 | Main Rate | 19 % |
| 01/04/2016 to 31/03/2017 | Main Rate | 20 % |
| 01/04/2015 to 31/03/2016 | Main Rate | 20 % |
| 01/04/2014 to 31/03/2015 | Small Profits Rate (£300,000 or lower) | 20 % |
| Main Rate (over £300,000) | 21 % | |
| 01/04/2013 to 31/03/2014 | Small Profits Rate (£300,000 or lower) | 20 % |
| Main Rate (over £300,000) | 23 % | |
| 01/04/2012 to 31/03/2013 | Small Profits Rate (£300,000 or lower) | 20 % |
| Main Rate (over £300,000) | 24 % |