Corporation Tax

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

	Year to 31.3.07
	Profits band £	Rate %
Small companies rate	0 - 300,000	19
Marginal (small companies) rate	300,001 - 1,500,000	32.75
Full rate	Over 1,500,000	30
Small companies fraction		11/400

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