Section 6 Small profits rate and fractions for financial year 2014
(1)
For the financial year 2014 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 1/400th, 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).