Part 1Charges, rates, allowances, etc

Corporation tax

7Charge and main rates for financial year 2010

1

Corporation tax is charged for the financial year 2010.

2

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.

3

In subsection (2) β€œring fence profits” has the F1meaning given by section 276 of CTA 2010.