Part IIIIncome Tax, Corporation Tax and Capital Gains Tax

Corporation tax: charge and rate

37Charge and rate of corporation tax for 1995

Corporation tax shall be charged for the financial year 1995 at the rate of 33 per cent.

38Small companies

For the financial year 1995—

(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.