Section 6 | Small profits rate and fractions for financial year 2014

(1)For the financial year 2014 the small profits rate is—

(a)20% on profits of companies other than ring fence profits, and

(b)19% on ring fence profits of companies.

(2)For the purposes of Part 3 of CTA 2010, for that year—

(a)the standard fraction is 1/400th, and

(b)the ring fence fraction is 11/400ths.

(3)In subsection (1) “ring fence profits” has the same meaning as in Part 8 of that Act (see section 276 of that Act).