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HMRC internal manual

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 FY 2010 lower limit) where no associated company* ### Upper relevant maximum amount (from FY 2010 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.