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Main Rate

The rate of Corporation Tax that a company pays Corporation Tax on if its taxable profits are over the Marginal Relief upper limit also known as upper rate, full rate or large company rate. See also 'rates, Corporation Tax', 'small profits rate', 'Marginal Relief'.

Marginal Rate Fraction

See 'standard fraction'.

Marginal Rate Relief

See 'Marginal Relief'.

Marginal Relief

Marginal Relief is the amount you deduct from the Corporation Tax that you would have paid at the main rate had your company's taxable profits been over £1.5 million.

You get less Marginal Relief if your profits are near to the Marginal Relief upper limit and more if your profits are smaller and closer to the Marginal Relief lower limit.

See also 'standard fraction', 'ring fence fraction', 'small profits rate', 'main rate'.

Marginal Relief Lower Limit

The maximum amount of profits on which your company or organisation is able to pay Corporation Tax at the lower rate; currently £300,000.

Marginal Relief Upper Limit

The maximum amount of profits on which your company or organisation is able to pay Corporation Tax taking into account the effective Marginal Relief; also known as upper profit limit; currently £1.5 million; if your profits are over the Marginal Relief upper limit you pay Corporation Tax at the main rate.

Marginal Small Companies Relief (MSCR)

See 'Marginal Relief'.

Members' Club

See 'club'.

Nominated Company

Companies in a Group Payment Arrangement nominate one of the members to make the payments on behalf of all the companies within the arrangement.

See 'Group Payment Arrangement'.

Normal Due Date

See 'due date'.