# Finance Act 2007, Section 2: Charge 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 is—
(a) 28% on profits of companies other than ring fence profits, and
(b) 30% on ring fence profits of companies.
(2) In this section “ring fence profits” has the same meaning as in Chapter 5 of Part 12 of ICTA (see section 502(1) and (1A)).

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Source: https://www.legislation.gov.uk/ukpga/2007/11/section/2 (the official version)
Page: https://openlegislation.uk/finance-act-2007/section-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.