From April 2023 the main rate of corporation tax will increase to 25% on profits over £250,000. The
rate for companies earning profits up to £50,000 will remain at 19%. Where a company’s profits fall
between these upper and lower thresholds it will be entitled to marginal relief, which will deliver
an effective tax rate between the thresholds of 26.5%. These rates and thresholds will continue to apply
for the 2024 financial year.
The UK government has devolved power to the Northern Ireland Assembly to set a Northern Ireland rate
of corporation tax to apply to certain trading income once the Northern Ireland Executive has
demonstrated to the UK government that its finances are on a sustainable footing, and the Northern
Ireland Assembly sets the rate of corporation tax to be applied.