HC Deb 30 June 1983 vol 44 c716
Motion made, and Question,
put forthwith pursuant to Standing Order No. 114 (Ways and Means motions), and agreed to.
- (a) for the financial year 1982 the fraction by reference to which corporation tax charged on income is reduced under subsection (2) of section 95 of the Finance Act 1972 shall be seven two-hundredths; and
- (b) for that financial year and subsequent financial years, subsection (3) of that section shall have effect with the substitution for any reference to £90,000 of a reference to £100,000 and for any reference to £225,000 of a reference to £500,000; and
- (c) where, by virtue of paragraph (b) above, section 95 of the Finance Act 1972 has effect with different relevant amounts in relation to different parts of the same accounting period, those parts shall be treated for the purposes of that section as if they were separate accounting periods and the profits and income of the company for that period (as defined in that section) shall be apportioned between those parts. — [Mr. Peter Rees.]