Part 1Charges, rates, allowances etc

Corporation tax

6Small profits rate and fractions for financial year 2011

1

For the financial year 2011 the small profits rate is—

a

20% on profits of companies other than ring fence profits, and

b

19% on ring fence profits of companies.

2

For the purposes of Part 3 of CTA 2010, for that year—

a

the standard fraction is 3/200ths, and

b

the ring fence fraction is 11/400ths.

3

In subsection (1) “ring fence profits” has the same meaning as in Part 8 of that Act (see section 276 of that Act).