After an eight-year hiatus, the small profits rate and marginal relief kicked in for companies with profits between £50,000 and £250,000 from 6 April.

Before 1 April 2015, there were two main rates of corporation tax. The main rate applied to companies if taxable total profits exceeded an upper limit and the small profits rate applied if total profits fell below a lower limit. Marginal relief was given to companies whose total profits lay between the lower and the upper limits in order to smooth the transition between the two.