CTM03510 - Corporation Tax: small profits relief: rates, limits & fractions

The lower rates of CT, and relevant limits and fractions, applicable are as follows:

Financial year (commencing 1 April in calendar year)	Rate	Lower relevant maximum amount (from FY2010 lower limit) where no associated company*	Upper relevant maximum amount (from FY2010 upper limit) where no associated company*	Marginal relief standard fraction
1989	25%	£150,000	£750,000	1/40
1990	25%	£200,000	£1,000,000	9/400
1991	25%	£250,000	£1,250,000	1/50
1992	25%	£250,000	£1,250,000	1/50
1993	25%	£250,000	£1,250,000	1/50
1994	25%	£300,000	£1,500,000	1/50
1995	25%	£300,000	£1,500,000	1/50
1996	24%	£300,000	£1,500,000	9/400
1997	21%	£300,000	£1,500,000	1/40
1998	21%	£300,000	£1,500,000	1/40
1999	20%	£300,000	£1,500,000	1/40
2000	20%	£300,000	£1,500,000	1/40
2001	20%	£300,000	£1,500,000	1/40
2002	19%	£300,000	£1,500,000	11/400
2003	19%	£300,000	£1,500,000	11/400
2004	19%	£300,000	£1,500,000	11/400
2005	19%	£300,000	£1,500,000	11/400
2006	19%	£300,000	£1,500,000	11/400
2007	20%	£300,000	£1,500,000	1/40
2008	21%	£300,000	£1,500,000	7/400
2009	21%	£300,000	£1,500,000	7/400
2010	21%	£300,000	£1,500,000	7/400
2011	20%	£300,000	£1,500,000	3/200
2012	20%	£300,000	£1,500,000	1/100
2013	20%	£300,000	£1,500,000	3/400
2014	20%	£300,000	£1,500,000	1/400

*based on a 12 month accounting period.

A table showing the full rate of CT for the financial years 1989 onwards can be found at CTM01750.

For companies with oil & gas ring fence profits these rates differ. The small companies’ rate of tax on those profits is 19 per cent and the MSCR fraction 11/400 for financial years 2007 to 2009. The small profits rate is 19 per cent and the ring fence fraction is 11/400 for financial year 2010 onwards.