The Budget for 2008-09 was presented to Parliament by the Chancellor of the Exchequer on 12 March 2008. Details of the corporate tax measures in the Budget are summarized below, with the effective dates noted where appropriate. Rate The main rate of corporation tax for the 2008 financial year is reduced to 28%. The Finance Bill 2008 will stipulate that that rate will apply also to the 2009 financial year. The corporation tax rate for small companies is increased to 21%, and the marginal relief fraction is adjusted to 7/400. The main rate of corporation tax for companies' ring fence...