Section 3 | Corporation tax rates

(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—

(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

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