The rate of corporation tax in relation to an open-ended investment company for any financial year is the rate at which income tax at the basic rate is charged for the tax year beginning on 6 April in that financial year F1... [F2(and sections 18A and 18B (relief for companies with small profits) do not apply)].
Textual Amendments
F1Words in s. 614 omitted (with effect in accordance with Sch. 1 para. 22 of the amending Act) by virtue of Finance Act 2014 (c. 26), Sch. 1 para. 15(2)
F2Words in s. 614 inserted (with effect in accordance with Sch. 1 para. 34 of the amending Act) by Finance Act 2021 (c. 26), Sch. 1 para. 27
Modifications etc. (not altering text)
C1S. 614 excluded (9.12.2021) by S.I. 2006/964, reg. 14DA(2)(f) (as inserted by The Authorised Investment Funds (Tax) (Amendment) Regulations 2021 (S.I. 2021/1270), regs. 1, 3(2))