Budget 2011 – Annual tax rates and allowances

Corporation Tax - GT

Corporation Tax

Year to 31 March 2012 31 March 2011
Small companies rate1 20% 21%
Upper limit2 £300,000 £300,000
Marginal relief band
Lower limit2 £300,001 £300,001
Upper limit2 £1,500,000 £1,500,000
Marginal rate 27.5% 29.75%
Marginal relief fraction 3/200 7/400
Full Rate 26% 28%

1 Not available to close investment holding companies.
2 Profit limits reduced pro rata for a company in a group or with associate companies.

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