Finance Act 2003 (c. 14)

Part 6 Income tax and corporation tax: charge and rate bands

Corporation tax

133 Charge and main rate for financial year 2004

Corporation tax shall be charged for the financial year 2004 at the rate of 30%.

134 Small companies' rate and fraction for financial year 2003

For the financial year 2003—

(a) the small companies' rate shall be 19%, and

(b) the fraction mentioned in section 13(2) of the Taxes Act 1988 (marginal relief for small companies) shall be 11/400ths.

135 Corporation tax starting rate and fraction for financial year 2003

For the financial year 2003—

(a) the corporation tax starting rate shall be 0%, and

(b) the fraction mentioned in section 13AA of the Taxes Act 1988 (marginal relief for small companies) shall be 19/400ths.