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Changes over time for: Cross Heading: Corporation tax
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Timeline of Changes
This timeline shows the different points in time where a change occurred. The dates will coincide with the earliest date on which the change (e.g an insertion, a repeal or a substitution) that was applied came into force. The first date in the timeline will usually be the earliest date when the provision came into force. In some cases the first date is 01/02/1991 (or for Northern Ireland legislation 01/01/2006). This date is our basedate. No versions before this date are available. For further information see the Editorial Practice Guide and Glossary under Help.
Status:
Point in time view as at 16/11/2017.
Changes to legislation:
There are currently no known outstanding effects for the Finance Act 2012, Cross Heading: Corporation tax.
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Changes to Legislation
Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.
Corporation taxU.K.
5Main rate of corporation tax for financial year 2012U.K.
(1)In section 5(2)(a) of FA 2011 (main corporation tax rate for financial year 2012 on profits other than ring fence profits), for “25%” substitute “ 24% ”.
(2)The amendment made by this section is treated as having come into force on 1 April 2012.
6Charge and main rate for financial year 2013U.K.
(1)Corporation tax is charged for the financial year 2013.
(2)For that year the rate of corporation tax is—
(a)23% on profits of companies other than ring fence profits, and
(b)30% on ring fence profits of companies.
(3)In subsection (2) “ring fence profits” has the same meaning as in Part 8 of CTA 2010 (see section 276 of that Act).
7Small profits rate and fractions for financial year 2012U.K.
(1)For the financial year 2012 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 1/100th, 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).
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