Explanatory Notes

Finance Act 2014

2014 CHAPTER 26

17 July 2014

Introduction

Section 5: Corporation Tax: Charge for Financial Year 2015

Summary

1. This section charges corporation tax (CT) for the financial year beginning 1 April 2015.

Details of the Section

2. This section charges CT for the financial year beginning 1 April 2015.

Background Note

3. Parliament charges CT for each financial year. This section charges CT for the financial year beginning 1 April 2015. The rate of CT for the financial year 2015 was set at 20 per cent in section 6 (1) Finance Act 2013.