Corporation Tax Rates
| Corporation Tax | Rates |
|---|---|
| Standard Rate (Trading Income) | 12.5% |
| Higher Rate (Non Trading Income) [includes income chargeable under Case III, Case IV, Case V, income from working minerals, petroleum activities and certain dealings in development land other than construction operations which are taxed at the rate of 12.5%] | 25% |
| Manufacturing Rate Manufacturing activities being carried on before 23 July 1998 (or grant approved on or before 31 July 1998) |
10% (Relief Expires 31 December 2010) |
| Qualifying Shipping Trade | 12.5% |
| Tonnage Tax This alternative method of calculating corporation tax commenced on the 28th March 2003. |
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