Corporation Tax
| Year to 31.3.09 | Year to 31.3.08 | |||
|---|---|---|---|---|
| Profits band £ |
Rate % |
Profits band £ |
Rate % |
|
| Small companies rate | 0 - 300,000 | 21 * | 0 - 300,000 | 20 |
| Marginal (small companies) rate | 300,001 - 1,500,000 | 29.75* | 300,001 - 1,500,000 | 32.50 |
| Full rate | Over 1,500,000 | 28* | Over 1,500,000 | 30 |
| Small companies fraction | 7/400* | 1/40 | ||
The profits limits are reduced for accounting periods of less than 12 months and for a company with associated companies.
* Different rates apply for ring-fenced (broadly oil industry) profit.