Corporation
Tax On Profits - £ per year (unless stated)
Financial
Year to 31/3/2009
Financial
Year to 31/3/2008
Small
companies rate
21% on first £300,000
20% on first £300,000
Marginal relief
300,001
- 1,500,000
300,001
- 1,500,000
Marginal
relief fraction
7/400
1/40
Effective
marginal rate
29.75%
32.5%
Main
rate
28% on 1,500,001
or more
30% on 1,500,001
or more
The
profits limits are reduced for accounting periods of less than 12 months and for
a company with associated companies.
It has also been announced in the 2008 pre-budget that the small companies rate for the financial year to 31/3/2010 will remain at 21% and the previously announced rise to 22% will not come in until the following year.
