The main rate of corporation tax for 2002-03 will be 30%.
Marginal relief eases the transition from the starting rate to the small companies' rate for companies with profits between £10,000 and £50,000. The fraction for calculating this marginal relief will be 1/40.
Marginal relief also applies to companies with profits between £300,000 and £1,500,000. The fraction for calculating this marginal relief will also be 1/40.
The starting rate and the small companies' rate do not apply to close investment holding companies |