Finance Act 2010 (c. 13)

Part 1 U.K. Charges, rates etc

Corporation tax U.K.

3 Small profits rates and fractions for financial year 2010 U.K.

(1) For the financial year 2010 the small profits rate is—

(a) 21% on profits of companies other than ring fence profits, and

(b) 19% on ring fence profits of companies.

(2) For the purposes of Part 3 of CTA 2010, for that year—

(a) the standard fraction is 7/400ths, and

(b) the ring fence fraction is 11/400ths.

(3) In subsection (1) “ring fence profits” has the same meaning as in Part 8 of CTA 2010 (see section 276 of that Act).