|
Financial year
|
2014
|
2013
|
2012
|
2011
|
2010
|
2009
|
|
Main rate
|
21%
|
23%
|
24%
|
26%
|
28%
|
28%
|
|
Small profits rate
|
20%
|
20%
|
20%
|
20%
|
21%
|
21%
|
|
Small profits rate limit*
|
£300.000
|
£300,000
|
£300.000
|
£300,000
|
£300,000
|
£300,000
|
|
Marginal relief lower limit
|
£300,000
|
£300,000
|
£300.000
|
£300,000
|
£300,000
|
£300,000
|
|
Marginal relief upper limit
|
£1,500.000
|
£1,500,000
|
£1,500,000
|
£1,500,000
|
£1,500,000
|
£1,500,000
|
|
Standard fraction
|
1/400
|
3/200
|
1/100
|
3/200
|
7/400
|
7/400
|
* the small profits rate of corporation tax is applies to qualifying companies with profits not exceeding the small profits rate limit.
Effective rates
|
Profit band |
FY2014 |
FY2013 |
FY2012 |
FY2010 |
|
£0 to £300,000 |
20%
|
20% |
20% |
20% |
|
£300,001 to £1,500,000 |
21.25% |
23.75% |
25% |
27.5% |
|
Above £1,500,000 |
21% |
23% |
24% |
26% |
Different rates apply to companies with ring fence profits. These are income and gains from oil extraction activities or oil rights in the UK and UK continental shelf. For financial years 2009 and 2010, the main rate for ring fence profits is 30%, the small profits rate is 19% and the standard fraction is 11/400.