There is also a sliding scale between the lower and upper rates known as Marginal Relief.
HMRC uses reliefs and deductions to refer to various expenses, losses or allowances that you subtract from your profits before you calculate how much Corporation Tax to pay - this is in contrast to credits or other types of relief that are deducted directly from the amount of Corporation Tax payable.
See 'ring fence companies'.
See also 'Marginal Relief'.
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