Finance Act 2012 (c. 14)

PART 1 Income tax, corporation tax and capital gains tax

CHAPTER 1 Income tax and corporation tax charges and rate bands

Corporation tax

6 Charge and main rate for financial year 2013

(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 subsection (2) “ring fence profits” has the same meaning as in Part 8 of CTA 2010 (see section 276 of that Act).