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Page 17 of 32
Budget 2006
Corporation Tax (Corporate Tax)
| Year to |
31 March 2007
|
31 March 2006
|
| Starting rate12 |
-
|
0%
|
| profits up to |
-
|
£10,000
|
| |
| Marginal relief band |
| lower limit |
-
|
£10,000
|
| upper limit |
-
|
£50,000
|
| marginal rate |
-
|
23.75%
|
| marginal relief fraction |
-
|
19/400
|
| |
| Small companies rate1 |
19%
|
19%
|
| lower limit |
-
|
£50,000
|
| upper limit |
£300,000
|
£300,000
|
| |
| Marginal relief band |
| lower limit |
£300,000
|
£300,000
|
| upper limit |
£1,500,000
|
£1,500,000
|
| marginal rate |
32.75%
|
32.75%
|
| marginal relief fraction |
11/400
|
11/400
|
| |
| Full Rate |
30%
|
30%
|
Profit limits reduced for a company in a group or with associated companies
1 Not available to close investment holding companies
2 A minimum rate of 19% applies on profits distributed to non-corporate shareholders
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Business Advice