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Part IIU.K. Income Tax, Corporation Tax and Capital Gains Tax

Chapter IU.K. General

Corporation tax charge and rateU.K.

21 Charge and rate of corporation tax for 1992.U.K.

Corporation tax shall be charged for the financial year 1992 at the rate of 33 per cent.

22 Small companies.U.K.

For the financial year 1992—

(a)the small companies’ rate shall be 25 per cent., and

(b)the fraction mentioned in section 13(2) of the Taxes Act 1988 (marginal relief for small companies) shall be one fiftieth.