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Corporation Tax Act 2010

Overview

70.The profits of a company are charged to tax at a lower rate than the main corporation tax rate if the profits of the company are within certain limits.

71.A lower rate is used if the company’s profits (for a full year) are no more than the “lower limit”. In making this comparison, there may be two adjustments.

72.First, some franked investment income is added to the profits of the company.

73.Second, the amount of the “lower limit” is split between companies that are under common control.

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