Part 1Charges, rates, thresholds etc
Corporation tax
2Charge and main rates for financial year 2008
1
Corporation tax is charged for the financial year 2008; and for that year the rate of corporation tax isβ
a
28% on profits of companies other than ring fence profits, and
b
30% on ring fence profits of companies.
2
In this section βring fence profitsβ has the same meaning as in Chapter 5 of Part 12 of ICTA (see section 502(1) and (1A)).