Corporation tax — Rates
Company rate 1, 2 |
2022/23 |
2021/22 |
Main rate |
19% |
19% |
- From April 2023, the main rate of corporation tax will increase to 25% on profits
over £250,000. The rate for companies earning profits up to £50,000 will remain at 19%, with marginal
tax relief given to companies with profits between £50,000 and £250,000 so that they pay less than the
main rate.
- The UK government has devolved power to the Northern Ireland Assembly to set a Northern Ireland rate
of corporation tax to apply to certain trading income once the Northern Ireland Executive has
demonstrated to the UK government that its finances are on a sustainable footing, and the Northern
Ireland Assembly sets the rate of corporation tax to be applied.