Corporation tax 2021/22 2020/21 Corporation taxCalculating your company's liability to corporation tax is not straightforward. The calculation starts with your company's profit [before tax] which is then subjected to a number of adjustments, add backs and deductions. Profits up to 31 March 2011 are taxed at 21 per cent (marginal rate 29.75 per cent) while profit accruing up to 31 March 2012 are taxed at 20 per cent (marginal rate 27.5 per cent). Given the minor difference in rates and for simplicity this calculator uses the lower rates for the whole of the year's profit. Having used the calculator please contact us as we would welcome the opportunity to discuss reducing this provisional liability. Please continue and enter values using the following options.Company details Net trading profit for the year (£): * The net trading profit was after charging depreciation of (£): * Capital assets (excluding cars) purchased in the year (£): * e.g. Plant and machinery. Not property, goodwill etc. Corporation tax is normally payable nine months after the end of your financial year. Depreciation is one of those items in your profit and loss account that is not an allowable cost for corporation tax purposes. Tax relief is available for certain capital expenditure. This calculator only allows for capital expenditure incurred during the year you are looking at. Please note that the results you see on your screen are estimates only. If you wish us to look further you will need to contact us.