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HMRC internal manual

Company Taxation Manual

Corporation Tax: small profits relief: no associated companies - profits not exceeding the lower limit

Where in any accounting period of twelve months:

  • a company has no associated companies (CTM03570), and
  • its profits for that accounting period (CTM03600) do not exceed the lower limit for small profits relief

the CT on its total taxable profits (CTM03505) is charged at the small profits CT rate.

See CTM03520 for the starting rate which applied for financial years 2000 to 2005.