Help with CT600 and incorrect Marginal relief

[clamp1988]

I have filled in the CT600 return online and the Marginal Tax relief calculated is wrong and thus showing rate of 25% as opposed to 19% since the prfoit is betweeen 50-250k. Can someone point in how to rectify this please. Please see attached

https://imgur.com/a/IFs6wNa

 

[UK Contractor Accountant]

Marginal relief is shown - £2372.20? Box 435

Why do think this is wrong?

 

[Bobbo]

I have filled in the CT600 return online and the Marginal Tax relief calculated is wrong and thus showing rate of 25% as opposed to 19% since the prfoit is betweeen 50-250k. Can someone point in how to rectify this please. Please see attached

https://imgur.com/a/IFs6wNa

I'm guessing based on the split of profits your financial year is 01/03/2023 - 29/02/2024?

If so, then the calculation is correct.

 

[clamp1988]

Marginal relief is shown - £2372.20? Box 435

Why do think this is wrong?

IS the rate of tax between not 19% for profit between 50-250k?

 

[UK Contractor Accountant]

IS the rate of tax between not 19% for profit between 50-250k?

no its 26.5%
19% up to £50K then 26.50%

Corporation Tax rates for companies

Rate	Profit bands £	Effective %
Small profits rate	0 - 50,000	19%
Marginal rate	50,001 - 250,000	26.5%
Main rate	>250,000	25%
Fraction		3/200

 

[clamp1988]

no its 26.5%
19% up to £50K then 26.50%

Corporation Tax rates for companies

Rate	Profit bands £	Effective %
Small profits rate	0 - 50,000	19%
Marginal rate	50,001 - 250,000	26.5%
Main rate	>250,000	25%
Fraction		3/200

Thanks for the clairifcation