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HMRC internal manual

Company Taxation Manual

From
HM Revenue & Customs
Updated
, see all updates

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

*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 years 2010, 2011 and 2012.