Finance Act 2002 (c. 23)

Part 3 U.K. Income tax, corporation tax and capital gains tax

Chapter 1 U.K. Charge and rate bands

Corporation tax U.K.

30 Charge and main rate for financial year 2003 U.K.

Corporation tax shall be charged for the financial year 2003 at the rate of 30%.

31 Small companies’ rate and fraction for financial year 2002 U.K.

For the financial year 2002—

(a) the small companies’ rate shall be 19%, and

(b) the fraction mentioned in section 13(2) of the Taxes Act 1988 (marginal relief for small companies) shall be 11/400ths.

32 Corporation tax starting rate and fraction for financial year 2002 U.K.

For the financial year 2002—

(a) the corporation tax starting rate shall be 0%, and

(b) the fraction mentioned in section 13AA(3) of the Taxes Act 1988 (marginal relief for small companies) shall be 19/400ths.