# Finance Act 2014, 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).

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Source: https://www.legislation.gov.uk/ukpga/2014/26/section/6 (the official version)
Page: https://openlegislation.uk/finance-act-2014/section-6
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.