what was the rate charged in the year 1969?
45%
United Kingdom corporation tax
On its introduction in 1965, corporation tax was charged at 40%, rising to 45% in the 1969 Budget.
what is united kingdom's corporation tax all about? A corporate tax levied in on the profits made by UK-resident companies. which department is responsible for implementation of these taxes? UNANSWERABLE which year was this type of tax introduced? 1965 at what rate was this type of tax charged in that year? 40%
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United Kingdom corporation tax [SEP] Rates
On its introduction in 1965, corporation tax was charged at 40%, rising to 45% in the 1969 Budget. The rate then fell to 42.5% in the second Budget of 1970 and 40% in 1971. In 1973, alongside the introduction of advance corporation tax (ACT), Conservative chancellor Anthony Barber created a main rate of 52%, together with a smaller companies' rate of 42%. This apparent increase was negated by the fact that under the ACT scheme, dividends were no longer subject to income tax. The 1979 Conservative Budget of Geoffrey Howe cut the small companies' rate to 40%, followed by a further cut in the 1982 Budget to 38%.