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Corporation tax rates

2024/25

  • Corporation tax rates are set for each Financial Year. A Financial Year runs from 1 April to the following 31 March.
  • If the accounting period of a company straddles the 31 March, the profits are apportioned on a time basis to each Financial Year.
  • The Northern Ireland Executive has committed to setting the rate of corporation tax at 12.5% when the Northern Ireland Executive demonstrates its finances are on a sustainable footing.

Year to 31.3.25

Profits band £

Rate %

Small profits rate

0 - 50,000

19

Marginal rate

50,001 - 250,000

26.5

Main rate

Over 250,000

25

Marginal relief fraction

3/200

2023/24

  • Corporation tax rates are set for each Financial Year. A Financial Year runs from 1 April to the following 31 March.
  • If the accounting period of a company straddles the 31 March, the profits are apportioned on a time basis to each Financial Year.
  • The Northern Ireland Executive has committed to setting the rate of corporation
    • Corporation tax rates are set for each Financial Year. A Financial Year runs from 1 April to the following 31 March.
    • If the accounting period of a company straddles the 31 March, the profits are apportioned on a time basis to each Financial Year.
    • The Northern Ireland Executive has committed to setting the rate of corporation tax at 12.5% when the Northern Ireland Executive demonstrates its finances are on a sustainable footing.

    Year to 31.3.24

    Profits band £

    Rate %

    Small profits rate

    0 - 50,000

    19

    Marginal rate

    50,001 - 250,000

    26.5

    Main rate

    Over 250,000

    25

    Marginal relief fraction

    3/200

    For the year to 31.3.23 the main rate of corporation tax was 19%. Special rules apply to accounting periods straddling 1 April 2023. For the year to 31.3.24 the profits limits are reduced for a company with associated companies. Different rates apply for ring-fenced (broadly oil industry) profit.