Tax Rates & Allowances 2015/16

Corporation Tax

Year to 31.3.16

Profits band
£
Rate
%
All profits 20

Year to 31.3.15

Profits band
£
Rate
%
0 - 300,000 20*
300,001 - 1,500,000 21.25*
Over 1,500,000 21*
Standard fraction 1/400*

*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.