Section 5 Charge and main rate for financial year 2012
United Kingdom
(1)
Corporation tax is charged for the financial year 2012.
(2)
For that year the rate of corporation tax is—
(a)
F124% 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).
Annotations
Textual amendments
- F1
Words in s. 5(2)(a) substituted (retrospective to 1.4.2012) by Finance Act 2012 (c. 14), s. 5(1)(2)