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6. Corporation tax (charge and main rate for financial year 2013)

Volume 542: debated on Monday 26 March 2012



(1) Corporation tax is charged for the financial year 2013.

(2) For that year the rate of corporation tax is—

(a) 23% on profits of companies other than ring fence profits, and

(b) 30% on ring fence profits of companies.

(3) In paragraph (2) “ring fence profits” has the same meaning as in Part 8 of the Corporation Tax Act 2010 (see section 276 of that Act).