A starting rate of corporation
tax of 0% was introduced in 2002 and
applies to companies with taxable profits
of £10,000 or less. Companies with
profits between £10,000 and £50,000
enjoy a marginal relief from the small
companies rate of 19%. This was followed
by the introduction of the non corporate
distribution rate of 19% on profits which
were distributed by way of dividends
back to the shareholders.
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