Section 3 | Corporation tax rates ^F1

(1)Corporation tax is charged at the rate set by Parliament for the financial year as the main rate.

(2)Subsection (1) is subject to—^F2

(a)section 18A (which provides for tax to be charged at the standard small profits rate instead of the main rate in certain cases), and^F2

(b)any other provision of the Corporation Tax Acts which provides for corporation tax to be charged at a different rate.^F2