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4. Corporation tax (small profits rates and fractions for financial year 2010)

Amendment of the Law – in the House of Commons at 9:44 pm on 30th March 2010.

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Question put,

That-

(1) For the financial year 2010 the small profits rate is-

(a) 21% 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 the Corporation Tax Act 2010, for that year-

(a) the standard fraction is 7/400ths, and

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

(3) In paragraph (1) "ring fence profits" has the same meaning as in Part 8 of the Corporation Tax Act 2010 (see section 276 of that Act).

The House divided: Ayes 297, Noes 230.

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Division number 121 Amendment of the Law — 4. Corporation tax (small profits rates and fractions for financial year 2010)

Aye: 297 MPs

No: 230 MPs

Ayes: A-Z by last name

Tellers

Nos: A-Z by last name

Tellers

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Question accordingly agreed to.

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