Summary
1.Section 5 reduces the corporation tax (CT) main rate for profits other than ring fence profits for the financial year beginning 1 April 2012. It sets the main rate of CT at 24 per cent on non-ring fence profits effective from 1 April 2012.
1.Section 5 reduces the corporation tax (CT) main rate for profits other than ring fence profits for the financial year beginning 1 April 2012. It sets the main rate of CT at 24 per cent on non-ring fence profits effective from 1 April 2012.