Corporation Tax

To  31/3/04

To  31/3/03

Starting Rate
(£0-£10,000)

0%

0%

Marginal Relief

£10,001-£50,000

£10,001-£50,000

Small Companies Rate (£50,001-£300,000)

19%

19%

Marginal Relief

£300,001-£1,500,000

£300,001-£1,500,000

Full Rate (£1,500,001+)

30%

30%

Main Capital Allowances

Plant & Machinery, Patent Rights,
Know-How:
writing down allowance (reducing balance)

25% pa

Plant & Machinery: First year allowance for expenditure incurred by small and medium sized businesses

40%

Motor Car:
writing down allowance (reducing balance)

25% pa, max £3,000 p.a

New car registered on or after 17/04/02 emitting up to 120g/km or electrically propelled.

100%

Enterprise Zone Buildings and Scientific Research

100% initial allowance

Industrial and Agricultural Buildings, Hotels, Docks, etc: writing down allowance (straight line)

4% pa

Information and Communication Technology Equipment
Small businesses from 1/4/00 to 5/4/04

100%

Investments in designated energy-saving plant and machinery from 6/4/00

100%