Amendment of the Law — 4. Corporation tax (small profits rates and fractions for financial year 2010) — 30 Mar 2010 at 21:44
Oliver Letwin MP, West Dorset voted in the minority (No).
(1) For the financial year 2010 the small profits rate is-
(a) 21% on profits of companies other than ring fence profits, and
(b) 19% on ring fence profits of companies.
(2) For the purposes of Part 3 of the Corporation Tax Act 2010, for that year-
(a) the standard fraction is 7/400ths, and
(b) the ring fence fraction is 11/400ths.
(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).
The House divided: Ayes 297, Noes 230.
Votes by party, red entries are votes against the majority for that party.
What is Tell? '+1 tell' means that in addition one member of that party was a teller for that division lobby.
What are Boths? An MP can vote both aye and no in the same division. The boths page explains this.
What is Turnout? This is measured against the total membership of the party at the time of the vote.
|Party||Majority (Aye)||Minority (No)||Both||Turnout|
|Con||0||167 (+2 tell)||0||87.6%|
|Lab||297 (+2 tell)||0||0||85.9%|