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.