5. Corporation tax (charge and main rate for financial year 2014)
Monday 25th March 2013
(11 years, 1 month ago)
Commons Chamber
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Resolved,
That—
(1) Corporation tax is charged for the financial year 2014.
(2) For that year the rate of corporation tax is—
(a) 21% on profits of companies other than ring fence profits, and
(b) 30% on ring fence profits of companies.
(3) In paragraph (2) “ring fence profits” has the same meaning as in Part 8 of the Corporation Tax Act 2010 (see section 276 of that Act).