Finance Act 2009 (c. 10)

Part 1 U.K. Charges, rates, allowances, etc

Corporation tax U.K.

7 Charge and main rates for financial year 2010 U.K.

(1) Corporation tax is charged for the financial year 2010.

(2) For that year the rate of corporation tax is—

(a) 28% on profits of companies other than ring fence profits, and

(b) 30% on ring fence profits of companies.

(3) In subsection (2) “ring fence profits” has the [F1 meaning given by section 276 of CTA 2010].

Textual Amendments

F1 Words in s. 7(3) substituted (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 1 para. 707 (with Sch. 2)