Finance Act 1996 (c. 8)

Part IV U.K. Income Tax, Corporation Tax and Capital Gains Tax

Chapter I U.K. Principal provisions

Corporation tax charge and rate U.K.

77 Charge and rate of corporation tax for 1996. U.K.

Corporation tax shall be charged for the financial year 1996 at the rate of 33 per cent.

78 Small companies. U.K.

For the financial year 1996—

(a) the small companies’ rate shall be 24 per cent.; and

(b) the fraction mentioned in section 13(2) of the Taxes Act 1988 (marginal relief for small companies) shall be nine four-hundredths.