|
|
Corporation Tax
|
Year Commencing
|
1st
April 2008
|
1st
April 2007
|
|
Small Companies Rate (Profits between £0K -
300K)
|
21%
|
20%
|
|
Full Rate (Profits over £1.5M)
|
28%
|
30%
|
|
Marginal Rate (Profits £300K -
£1.5M)
|
29.75%
|
32.50%
|
Main Capital Allowances
|
Motorcars
|
20% of reducing balance (max £3,000 p.a. per
car).
|
| Plant and machinery
|
20% of reducing balance.
All Businesses will
receive an Annual Investment Allowance of £50,000 introduced
from April 2008. Purchases of plant and machinery upto this figure
will obtain a 100% tax deduction. |
|
Industrial and agricultural buildings
|
3% of cost.
|
|
Certain energy efficient plant, including low emission cars. |
100% initial allowance. |
The industrial and agricultural buildings allowances
will be removed in stages between 2008 - 2011. However integral features
of a building to be separately identified and receive capital allowances
at a rate of 10%.
|
