The rate of corporation tax in relation to an authorised unit trust for any financial year is the rate at which income tax at the basic rate is charged for the tax year beginning on 6 April in that financial year F1... [F2(and sections 18A and 18B (relief for companies with small profits) do not apply)].
Textual Amendments
F1Words in s. 618 omitted (with effect in accordance with Sch. 1 para. 22 of the amending Act) by virtue of Finance Act 2014 (c. 26), Sch. 1 para. 15(3)
F2Words in s. 618 inserted (with effect in accordance with Sch. 1 para. 34 of the amending Act) by Finance Act 2021 (c. 26), Sch. 1 para. 28
Modifications etc. (not altering text)
C1S. 618 excluded (9.12.2021) by S.I. 2006/964, reg. 14DA(2)(g) (as inserted by The Authorised Investment Funds (Tax) (Amendment) Regulations 2021 (S.I. 2021/1270), regs. 1, 3(2))