Part 1

Charges, rates etc

Corporation tax

Charge and main rate for financial year 2011
2
1
Corporation tax is charged for the financial year 2011.
2
For that year the rate of corporation tax is—
a
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).
Word in s. 2(2)(a) substituted (1.4.2011) by Finance Act 2011 (c. 11), s. 4