http://www.legislation.gov.uk/ukpga/1997/58/section/1/2006-07-19Finance (No. 2) Act 1997An Act to grant certain duties, to alter other duties, and to amend the law relating to the National Debt and the Public Revenue, and to make further provision in connection with Finance.1997-07-31texttext/xmlenStatute Law Database2024-05-21Expert Participation2006-07-19 Part I The windfall tax Charge to windfall tax.11Every company which, on 2nd July 1997, was benefitting from a windfall from the flotation of an undertaking whose privatisation involved the imposition of economic regulation shall be charged with a tax (to be known as the “windfall tax”) on the amount of that windfall.2Windfall tax shall be charged at the rate of 23 per cent.3Schedule 1 to this Act (which sets out how to quantify the windfall from which a company was benefitting on 2nd July 1997) shall have effect.
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Every company which, on 2nd July 1997, was benefitting from a windfall from the flotation of an undertaking whose privatisation involved the imposition of economic regulation shall be charged with a tax (to be known as the “
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