Finance Act 1998 (c. 36)

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

Chapter I U.K. Income Tax and Corporation Tax

Corporation tax charge and rates U.K.

28 Charge and rates for financial year 1998. U.K.

(1) Corporation tax shall be charged for the financial year 1998 at the rate of 31 per cent.

(2) For that year—

(a) the small companies’ rate shall be 21 per cent.; and

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