Uk Corporation Tax Rates 2024. While the rate had previously been set at 19%, it has now been increased to 25% for companies with profits over £250,000. To balance the need to raise revenue with the objective of having an internationally competitive tax system, the rate of corporation tax will increase to 25%, which will remain the lowest.
For corporations, the 2022/2023 financial year marked the last year of corporation tax rates residing only at 19%.from april 2023, the rate of 25% was introduced for profits exceeding £250,000, while profits between £50,000 and £250,000 will be taxed at a marginal rate of 26.5%. The attached document is classified by hmrc as guidance and contains information about the rates payable for corporation tax.