corporation tax

corporation tax
= CT
Tax charged on the total profits of a company resident in the UK arising in each accounting period. The rate of corporation tax depends on the level of profits of the company. The small companies rate of 19% currently applies to companies with total profits of £300,000 or less; since 2002 very small companies with total annual profits of £10,000 or less pay no CT. Full-rate corporation tax of 30% applies to companies with total profits of over £1.5 million. There is a marginal relief for those companies with total profits between £300,000 and £1.5 million or between £10,000 and £50,000.

Accounting dictionary. 2014.

Игры ⚽ Поможем написать реферат

Look at other dictionaries:

  • corporation tax — The tax charged on companies resident for tax purposes in the UK and foreign companies operating through a UK branch, tax is calculated as a percentage of taxable profit, i.e. taxable income less deductible expenses, reliefs and allowances. For… …   Law dictionary

  • corporation tax — noun A tax levied on the profits of companies • • • Main Entry: ↑corporate * * * corporation tax UK US noun [uncountable] a tax that companies pay on their profits Thesaurus: types of tax and taxationhyponym * * * ˌcorpoˈration tax …   Useful english dictionary

  • corporation tax — ► NOUN ▪ tax levied on companies profits …   English terms dictionary

  • corporation tax — Taxation payable by companies, as opposed to individuals and trusts. Dresdner Kleinwort Wasserstein financial glossary Tax chargeable on the profits of a UK company. Financial Services Glossary * * * corporation tax corporation tax ➔ tax1 * * *… …   Financial and business terms

  • corporation tax — CT Tax charged on the total profits of a company resident in the UK arising in each accounting period The rate of corporation tax depends on the level of profits of the company. The small companies rate of 19% currently applies to companies with… …   Big dictionary of business and management

  • corporation tax — (BrE) (AmE corporation income tax) n [U] a tax paid by companies on their profits. British companies pay between 19% and 30% corporation tax, depending on the size of their profits. In the US different rates are charged in each state. * * * …   Universalium

  • corporation tax — N UNCOUNT Corporation tax is a tax that companies have to pay on the profits they make …   English dictionary

  • Corporation tax in the Republic of Ireland — is a levy on a company’s profits. The tax is charged on both a company s income and chargeable gains. The corporation tax in Ireland is quite low, and is often cited as an example of tax competition, as it is used as an incentive for foreign… …   Wikipedia

  • Corporation Tax Act 2010 — Parliament of the United Kingdom Long title An Act to restate, with minor changes, certain enactments relating to corporation tax and certain enactments relating to company distributions; and for connected purposes …   Wikipedia

  • Corporation Tax Act 2009 — The Corporation Tax Act 2009[1] Parliament of the United Kingdom Long title An Act to restate, with minor changes, certain enactments relating to corpora …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”