s 2 Charge and main rates for financial year 2008
(1) Corporation tax is charged for the financial year 2008; and for that year the rate of corporation tax is— (a) 28% on profits of companies other than ring fence profits, and (b) 30% on ring fence profits of companies. (2) In this section “ ring fence profits ” has the same meaning as in Chapter 5 of Part 12 of ICTA (see section 502(1) and (1A)).