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Corporation Tax

 

Financial Year

 

2012/13

2011/12

Profits exceeding £1,500,000 (standard rate)

24%

26%

Profits under £300,000 (small companies rate)

20%

20%

 

 

 

Marginal relief fraction

1/100

3/200

Effective marginal rate on profits between £300,000 and £1,500,000

25.00%

27.5%

 

 

 

Note that for close investment holding companies the standard rate will normally apply regardless of profit levels.

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