Corporation Tax
| Year to 31.3.13 | Year to 31.3.12 | |||
| 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 | 25* | 300,001-1,500,000 | 27.5* |
| Main Rate | over 1,500,000 | 24* | over 1,500,000 | 26 |
| Standard Fraction | 1/100* | 3/200* | ||
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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John Galley, Partner
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