Tax Rates & Allowances 2015/16
Corporation Tax
Year to 31.3.16
| Profits band £ |
Rate % |
| All profits | 20 |
Year to 31.3.15
| Profits band £ |
Rate % |
| 0 - 300,000 | 20* |
| 300,001 - 1,500,000 | 21.25* |
| Over 1,500,000 | 21* |
| Standard fraction | 1/400* |
*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.