Finance Act 2007

Corporation tax U.K.

2 Charge and main rates for financial year 2008 U.K.

(1) Corporation tax is charged for the financial year 2008; and for that year the rate of corporation tax is—

(a) 28% on profits of companies other than ring fence profits, and

(b) 30% on ring fence profits of companies.

(2) In this section “ring fence profits” has the same meaning as in Chapter 5 of Part 12 of ICTA (see section 502(1) and (1A)).

F1 3 Small companies' rates and fractions for financial year 2007 U.K.

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Textual Amendments

F1 S. 3 repealed (with effect in accordance with s. 1184(1) of the amending Act) by Corporation Tax Act 2010 (c. 4), s. 1184(1), Sch. 1 para. 574, Sch. 3 Pt. 1 (with Sch. 2)