How do you know what the corporate tax rate is?

Does anyone know if the tax rate has changed i line with basic tax change in uk?

• tax rate changed from 10p 22p and 40p in pound recently to 20p and 40p, does this mean company car tax which if applicable was charged at 22p in pound is now 20p in pound?

• Answer:

  hi there. Yes amount you are taxed on a company car has also changed. But remember if the value of the car (book price) divided by 3 plus your anual wage comes to 33k or more then your tax band will increase. For tax reasons if you have the use of a company car for personal use then hmrc view this as a benefit To work out the actual price of this benefit the tax office say. 1 3rd of the time the car is used for business 1 3rd of the time the car is used for personal use 1 3rd of the time the car is not used at all So they divide the price of the car by 3 and add this to your anual wage. so a 30,000 car would increase your anual wage by 10,000.00 this is bad for tax reasons but means you can use the 10,000 car value as proof of income when asking for a mortgage. To do this you ask your employer for a P35 which is a print out of your wages including the cost of your company car.