Corporation tax

This calculator uses the 2013/14 corporation tax rates to work out your liability. This may not be an accurate reflection of your corporation tax liability, please contact us to discuss further.

Company details

Net trading profit for the year (£): *

The net trading profit was after charging depreciation of (£): *

Capital assets (excluding cars) purchased in the year (£): *

e.g. Plant and machinery. Not property, goodwill etc.

Number of associated companies: *

Corporation tax is normally payable nine months and one day after the end of your financial year.
Depreciation is one of those items in your profit and loss account that is not an allowable cost for corporation tax purposes.
Tax relief is available for certain capital expenditure. This calculator only allows for capital expenditure incurred during the year you are looking at. While there is a £250,000 allowance for plant and machinery, your entitlement this year will be less. Please contact us to discuss the tax relief available on your capital expenditure.

Profits up to 31 March 2013 are taxed at 24 per cent (marginal rate 25 per cent) while profit accruing up to 31 March 2014 are taxed at 23 per cent (marginal rate 23.75 per cent).

Given the minor difference in rates and for simplicity this calculator uses the lower rates for the whole of the year's profit.

Corporation tax rates

Main capital allowances

Please note that the results you see on your screen are estimates only. If you wish us to look further you will need to contact us.

Corporation tax

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