s 5 Charge and main rate for financial year 2012
(1) Corporation tax is charged for the financial year 2012. (2) For that year the rate of corporation tax is— (a) 24% on profits of companies other than ring fence profits, and (b) 30% on ring fence profits of companies. (3) In subsection (2) “ ring fence profits ” has the same meaning as in Part 8 of CTA 2010 (see section 276 of that Act).