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Corporation tax — Rates

Company rate 1, 2 2021/22 2020/21
Main rate 19% 19%
  1. 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.
  2. 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.