Corporation tax is a tax imposed on the taxable profits of limited companies and other organisations including clubs, associations, and other unincorporated bodies. In other words, corporation tax in the UK is a statutory tax charged on the profits of companies.
What is the current rate of Corporation Tax
At this point in time (in the financial year 2022/2023) the rate is still at 19%, although next year it will go up as profits rise as is shown in the following table: