Part 1Charges, rates, allowances, etc
Corporation tax
7Charge and main rates for financial year 2010
(1)
Corporation tax is charged for the financial year 2010.
(2)
For that year the rate of corporation tax isβ
(a)
28% on profits of companies other than ring fence profits, and
(b)
30% on ring fence profits of companies.
(3)
In subsection (2) βring fence profitsβ has the F1meaning given by section 276 of CTA 2010.