Finance Act 2010 (c. 13)

Part 1 U.K. Charges, rates etc

Corporation tax U.K.

2 Charge and main rate for financial year 2011 U.K.

(1) Corporation tax is charged for the financial year 2011.

(2) For that year the rate of corporation tax is—

(a) [F1 26%] 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).

Textual Amendments

F1 Word in s. 2(2)(a) substituted (1.4.2011) by Finance Act 2011 (c. 11), s. 4