Corporation Tax

	Year to 31.3.09		Year to 31.3.08
	Profits band £	Rate %	Profits band £	Rate %
Small companies rate	0 - 300,000	21*	0 - 300,000	20
Marginal (small companies) rate	300,001 - 1,500,000	29.75*	300,001 - 1,500,000	32.50
Full rate	Over 1,500,000	28*	Over 1,500,000	30
Small companies fraction		7/400*		1/40

The profits limits are reduced for accounting periods of less than 12 months and for a company with associated companies.

*Different rates apply for ring-fenced (broadly oil industry) profit.