Tax Rates & Allowances 2014/15

Corporation Tax

 

Year to 31.3.15

Year to 31.3.14

  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 21.25* 300,001 - 1,500,000 23.75*
Main rate Over 1,500,000 21* Over 1,500,000 23*
Standard fraction   1/400*   3/400*

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.