For ring fence (oil and gas) profits, see ¶9-050.

Financial year(1)

Main rate of corporation tax

%(2)(3)(5)

Small profits rate of corporation tax

%(2)(3)

Limit for small profits rate (lower limit)

£(3)

Limit for marginal relief (upper limit)

£(3)

Standard fraction for marginal relief(2)

Special IP rate

%(4)

Diverted profits rate

%(6)

2023

25%

19%

50,000

250,000

3/200

10%

31%

2022

19%

10%

25%

2021

19%

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