HM Treasury’s United Kingdom Budget 2007

Grant Thornton

Grant Thornton

Corporation Tax (Corporate Tax)

Year to 31 March 2008 31 March 2007
Small Companies rate 1 20% 19%
Upper Limit £300,000 £300,000
Marginal relief band
Lower limit £300,000 £300,000
Upper limit £1,500,000 £1,500,000
 Marginal rate 32½% 32¾%
Marginal relief fraction 1/40 11/400
 
Full Rate 30% 30%

Profit limits reduced for a company in a group or with associated companies

1 Not available to close investment holding companies

The figures shown here are subject to ammendment as the Finance Bill passes through Parliament.

This information has been prepared only as a topical guide to tax and personal financial matters. No responsibility can be accepted by us for loss occasioned to any person acting or refraining from acting as a result of any material contained in this publication.

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