Corporation Tax (CT)
Basis of charge
There are two rates of Corporation Tax (CT):
- 12.5% for trading income
- 25% for income from an excepted trade (as defined in part 2 of the Taxes Consolidation Act)
- 25% for non trading income, for example rental and investment income.
CT is charged on the profits in a company’s accounting period. This period cannot be longer than 12 months. If the tax rate changes in the accounting period, profits will be apportioned on a time basis and taxed accordingly.
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