division_name: Amendment of the Law &#8212; 4. Corporation tax (small profits rates and fractions for financial year 2010)
motion: <p class="italic" pid="b.744.1/1" pwmotiontext="yes"> Question put,</p>
  
  <p pid="b.744.1/2" pwmotiontext="yes">That-</p>
  
  <p pid="b.744.1/3" pwmotiontext="yes">(1) For the financial year 2010 the small profits rate is-</p>
  
  <p pid="b.744.1/4" pwmotiontext="yes">(a) 21% on profits of companies other than ring fence profits, and</p>
  
  <p pid="b.744.1/5" pwmotiontext="yes">(b) 19% on ring fence profits of companies.</p>
  
  <p pid="b.744.1/6" pwmotiontext="yes">(2) For the purposes of Part 3 of the Corporation Tax Act 2010, for that year-</p>
  
  <p pid="b.744.1/7" pwmotiontext="yes">(a) the standard fraction is 7/400ths, and</p>
  
  <p pid="b.744.1/8" pwmotiontext="yes">(b) the ring fence fraction is 11/400ths.</p>
  
  <p pid="b.744.1/9" pwmotiontext="yes">(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).</p>
  
  <p pid="b.744.1/10" pwmotiontext="yes"><i> The House divided:</i> Ayes 297, Noes 230.</p>