division_name: Amendment of the Law &#8212; 6. Corporation tax (small companies' rates and fractions for financial year 2008)
motion: <p class="italic" pid="b.858.3/1" pwmotiontext="yes"> Motion made, and Question put,</p>
  
  <p class="indent" pid="b.858.3/2" pwmotiontext="yes">That&#8212;</p>
  
  <p class="indent" pid="b.858.3/3" pwmotiontext="yes">(1) For the financial year 2008 the small companies' rate is&#8212;</p>
  
  <p class="indent" pid="b.858.3/4" pwmotiontext="yes">(a) 21% on profits of companies other than ring fence profits, and</p>
  
  <p class="indent" pid="b.858.3/5" pwmotiontext="yes">(b) 19% on ring fence profits of companies, and</p>
  
  <p class="indent" pid="b.858.3/6" pwmotiontext="yes">(2) For the financial year 2008 the fraction mentioned in section 13(2) of the Income and Corporation Taxes Act 1988 is&#8212;</p>
  
  <p class="indent" pid="b.858.3/7" pwmotiontext="yes">(a) 7/400ths in relation to profits of companies other than ring fence profits, and</p>
  
  <p class="indent" pid="b.858.3/8" pwmotiontext="yes">(b) 11/400ths in relation to ring fence profits of companies.</p>
  
  <p pid="b.858.3/9" pwmotiontext="yes"><i> The House divided:</i> Ayes 301, Noes 245.</p>