• 2024/25
  • 2023/24

  • Corporation tax rates

    • Corporation tax rates are set for each Financial Year. A Financial Year runs from 1 April to the following 31 March.
    • If the accounting period of a company straddles the 31 March, the profits are apportioned on a time basis to each Financial Year.
    • The Northern Ireland Executive has committed to setting the rate of corporation tax at 12.5% when the Northern Ireland Executive demonstrates its finances are on a sustainable footing.

    Year to 31.3.25

    Profits band £

    Rate %

    Small profits rate

    0 - 50,000

    19

    Marginal rate

    50,001 - 250,000

    26.5

    Main rate

    Over 250,000

    25

    Marginal relief fraction

    3/200

  • Corporation tax rates

    • Corporation tax rates are set for each Financial Year. A Financial Year runs from 1 April to the following 31 March.
    • If the accounting period of a company straddles the 31 March, the profits are apportioned on a time basis to each Financial Year.
    • The Northern Ireland Executive has committed to setting the rate of corporation
      • Corporation tax rates are set for each Financial Year. A Financial Year runs from 1 April to the following 31 March.
      • If the accounting period of a company straddles the 31 March, the profits are apportioned on a time basis to each Financial Year.
      • The Northern Ireland Executive has committed to setting the rate of corporation tax at 12.5% when the Northern Ireland Executive demonstrates its finances are on a sustainable footing.

      Year to 31.3.24

      Profits band £

      Rate %

      Small profits rate

      0 - 50,000

      19

      Marginal rate

      50,001 - 250,000

      26.5

      Main rate

      Over 250,000

      25

      Marginal relief fraction

      3/200

      For the year to 31.3.23 the main rate of corporation tax was 19%. Special rules apply to accounting periods straddling 1 April 2023. For the year to 31.3.24 the profits limits are reduced for a company with associated companies. Different rates apply for ring-fenced (broadly oil industry) profit.