Corporation Tax Rates

Corporation tax rates and bands are as follows:

Financial Year to

31 March 2013

31 March 2012

Taxable profits
First £300,000



Next £1,200,000



Over £1,500,000






Rates for    financial years starting on 1 April
Rate 2010 2011 2012 2013
Small Profits Rate* 21%* 20%* 20%*
Small Profits Rate can be claimed by   qualifying companies with profits at a rate not exceeding £300,000 £300,000 £300,000
Marginal Relief Lower Limit £300,000 £300,000 £300,000
Marginal Relief Upper Limit £1,500,000 £1,500,000 £1,500,000
Standard fraction 7/400 3/200 1/100
Main rate of Corporation Tax* 28%* 26%* 24%* 23%*
Special rate for unit trusts and open-ended   investment companies 20% 20% 20%

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