27 Corporation Tax (Small Companies)

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Motion made, and Question,

That—

(a) the small companies rate for the financial year 1981 shall be 40 per cent.; and

(b) the fraction by reference to which corporation tax charged on income is reduced under section 95(2) of the Finance Act 1972 shall for that financial year be two twenty-fifths.—[Sir Geoffrey Howe.]

put forthwith pursuant to Standing Order No. 94 (Ways and Means motions), and agreed to.

Volume 20: debated on Monday 15 March 1982