Pre Budget Report 2009 - Corporation Tax

Rate of tax

The small companies rate of corporation tax, which applies to corporate profits of up to £300,000 a year, was supposed to rise from 21% to 22% on 1 April 2009. This was deferred for a year to 1 April 2010, and has now been deferred again for a further year to 1 April 2011.

Designated Members : M.J. Jay, F.C.A. • P.E. Farrow, F.C.C.A., A.C.A. • J.W. Hall, F.C.C.A., A.C.A. • J.R. Turner, Dip. P.F.S., A.I.F.P. • R.D. Gray, A.C.I.B. • S.J. Edwards, A.C.A.
Member: S.T. Boote, B.Sc (Econ), F.C.A.

Offices at King's Lynn and Downham Market. Registered to carry on audit work and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales. Mapus-Smith & Lemmon LLP is a registered limited liability partnership.