Corporation Tax rates
The government has announced that the main rate of corporation tax will remain at 28% for the financial years starting on 1 April 2009 and 2010. The small companies' rate of corporation tax will remain at 21% for the financial year starting on 1 April 2009, but will rise to 22% from 1 April 2010.
Our view
These rates are all as expected. It had originally been
planned to increase the small companies' rate to 22%. However it was announced
at the Pre-Budget Report that this rate increase would be deferred for a year
until 1 April 2010.
