Profits up to £50,000 are taxed at 19% and profits over £250,000 at 25%. In between, marginal relief gives a gradual increase. Associated companies share the limits.
When corporation tax is due
Most companies pay 9 months and 1 day after the end of the accounting period, and file the CT600 within 12 months.
Worked example
See it with real numbers
A company with taxable profit of £120,000 pays £28,050 of corporation tax, an effective rate of about 23.4%, after marginal relief.