If a company has one subsidiary, that it owns 75% of share capital, then they are both associated companies, and therefore am I right in saying that the limits for tax are now halved for BOTH companies when they pay their corporation tax?
So the parent's tax limits are now 0-£5000 - Starting Rate, £5,000-25,000 small companies rate 19% marginal relief, £5000-150,000 small companies rate - 19%, 150,000-750000 full rate
30% marginal relief, and 750,000+ full rate 30%
And the same applies to the subsidiary?? they also get their tax limits halved for paying their tax?