Taxation policy of England

Company revenue

1. Limits of pay taxes company

The round-the-world profit of British dweller company all is the imposition object of corporation tax, profit includes earning and capital benefit to get, originate the dividend of British dweller company mixes other allocation profit is not listed here. The branch that foreign company establishs in England also must pay corporation tax, but only the profit pay with respect to its branch.

2. Tax rate

Offer according to the taxation that promulgated on March 15, 1988, only then the corporation tax tax rate of the financial year on April 1, 1988 (apply to profit to be in the company of above of 500 thousand flower pound) keep changeless, remain 35 ％ . But tax rate of small company tax (apply to profit to be in the company under 100 thousand flower pound) drop from 27 ％ 25 ％ , with income tax basic tax rate reduces direction to agree. Active the biggest duty-free fluctuation is restricted (100000 flower pounds and 500000 flower pounds) keep changeless, but the biggest duty-free mark will turn into 1 ／ 40. Profit is in 100 thousand flower pound and the company between 500 thousand flower pound applicable and complete tax rate, but those who authority obtains utmost is duty-free.

Other revenue

1. Value added tax

Basis taxation offerred 1988, the value added tax that to granting since August 1, 1988 the commercial entertainment expenses of foreign client imposes is deducted no longer, consistent to the processing of value added tax of be recruited of expenses of other business entertainment and this.

Since March 16, 1988, the turnover dividing line that the requirement has value added tax is registered rises annual 22100 flower pounds or every quarter 7500 flower pounds.

2. Oil tariff

Taxation offerred to abolish the oil field royalty that rise develops after April 1982 1988, the oil subsidy that offers oil field also decreases accordingly.

Pay taxes privilege
　　
To enterprise of most legal person, england is actual it is district of a small tax. Although the nominal tax rate of company taxes all the time taller, but fall in a lot of circumstances, depreciation extend a time limit makes the actual per cent that effective tax rate regards real cost as profit is very low. Pay taxes privilege of England basically comes true through accelerating depreciation, incorporate is in following two respects:

1. Mechanical equipment and the depreciation of 0 spare parts

" tax law " regulation, press a particular year and mechanical equipment and the depreciation of 0 spare parts are distinguished. The depreciation of presses year of 100 ％ allowance for depreciation that purchases before March 13, 1984; Pressed year of 75 ％ depreciation to what purchase before March 31, 1985 on March 13, 1984; Pressed year of 10 ％ depreciation to what purchased on March 31, 1986 on March 31, 1985; Purchase after March 31, 1986 do not grant depreciation.

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