Tiered Corporation Tax Rates for Rich List Companies

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Tiered Corporation Tax Rates for Rich List Companies

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"Tesco, Britain's biggest retailer, reported record profits of £3.8bn – more than £10m a day – but admitted that it needs to do better in its core UK operations."

Why should companies like Tesco only pay a flat rate of 26% corporation tax (reducing from 28% in 2009 and 2010 to 25% in 2012)?

Employees' rates are tiered (20% £0-35,000, 40% £35,000-150,000, 50% over £150,000).

Company profits resulting from UK sourced income should be subject to tiered rates of taxation in a manner similar to those set for employees.

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