Tax rate: Difference between revisions
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imported>Doug Williamson (Future proof rate.) |
imported>Doug Williamson (Update example.) |
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A proportion - usually expressed as a percentage - applied to a taxable amount to calculate the amount of tax payable. | A proportion - usually expressed as a percentage - applied to a taxable amount to calculate the amount of tax payable. | ||
For example, the | For example, if the tax rate is 20% and taxable profits are £100m, then the tax payable is £20m. | ||
Revision as of 10:07, 20 February 2020
A proportion - usually expressed as a percentage - applied to a taxable amount to calculate the amount of tax payable.
For example, if the tax rate is 20% and taxable profits are £100m, then the tax payable is £20m.
