- corporation tax
- = CTTax charged on the total profits of a company resident in the UK arising in each accounting period. The rate of corporation tax depends on the level of profits of the company. The small companies rate of 19% currently applies to companies with total profits of £300,000 or less; since 2002 very small companies with total annual profits of £10,000 or less pay no CT. Full-rate corporation tax of 30% applies to companies with total profits of over £1.5 million. There is a marginal relief for those companies with total profits between £300,000 and £1.5 million or between £10,000 and £50,000.
Accounting dictionary. 2014.
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corporation tax — The tax charged on companies resident for tax purposes in the UK and foreign companies operating through a UK branch, tax is calculated as a percentage of taxable profit, i.e. taxable income less deductible expenses, reliefs and allowances. For… … Law dictionary
corporation tax — noun A tax levied on the profits of companies • • • Main Entry: ↑corporate * * * corporation tax UK US noun [uncountable] a tax that companies pay on their profits Thesaurus: types of tax and taxationhyponym * * * ˌcorpoˈration tax … Useful english dictionary
corporation tax — ► NOUN ▪ tax levied on companies profits … English terms dictionary
corporation tax — Taxation payable by companies, as opposed to individuals and trusts. Dresdner Kleinwort Wasserstein financial glossary Tax chargeable on the profits of a UK company. Financial Services Glossary * * * corporation tax corporation tax ➔ tax1 * * *… … Financial and business terms
corporation tax — CT Tax charged on the total profits of a company resident in the UK arising in each accounting period The rate of corporation tax depends on the level of profits of the company. The small companies rate of 19% currently applies to companies with… … Big dictionary of business and management
corporation tax — (BrE) (AmE corporation income tax) n [U] a tax paid by companies on their profits. British companies pay between 19% and 30% corporation tax, depending on the size of their profits. In the US different rates are charged in each state. * * * … Universalium
corporation tax — N UNCOUNT Corporation tax is a tax that companies have to pay on the profits they make … English dictionary
corporation tax — corpo ration ,tax noun uncount a tax that companies pay on their profits … Usage of the words and phrases in modern English
corporation tax — noun Brit. tax levied on companies profits … English new terms dictionary
corporation tax — UK / US noun [uncountable] British a tax that companies pay on their profits … English dictionary