PART 1 U.K. Income Tax, Corporation Tax and Capital Gains Tax

CHAPTER 1 U.K. Charges, rates etc

Corporation tax U.K.

4 Charge and main rate for financial year 2014 U.K.

(1) Corporation tax is charged for the financial year 2014.

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

(a) 21% 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).