Corporation Tax

  Year to 31.3.14 Year to 31.3.13
  Profits Band £ Rate % Profits Band £ Rate %
Small Profits Rate 0-300,000 20* 0-300,000 20*
Marginal (small profits) Rate 300,001-1,500,000 23.75* 300,001-1,500,000 25*
Main Rate over 1,500,000 23* over 1,500,000 24*
Standard Fraction   3/400*   1/100*


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.

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