Budget Resolutions and Economic Situation — 25. Corporation Tax (Charge And Rate For 2004) — 14 Apr 2003 at 23:15

Question accordingly agreed to.

26. Corporation tax (small companies' rate for 2003)

Resolved,

That for the financial year 2003-

(a) the small companies' rate shall be 19%, and

(b) the fraction mentioned in section 13(2) of the Income and Corporation Taxes Act 1988 shall be 11/400ths.

And it is hereby declared that it is expedient in the public interest that this Resolution should have statutory effect under the provisions of the Provisional Collection of Taxes Act 1968.

27. Corporation tax (starting rate for 2003)

Resolved,

That for the financial year 2003-

(a) the corporation tax starting rate shall be 0%, and

(b) the fraction mentioned in section 13AA of the Income and Corporation Taxes Act 1988 shall be 19/400ths.

And it is hereby declared that it is expedient in the public interest that this Resolution should have statutory effect under the provisions of the Provisional Collection of Taxes Act 1968.

28. Employment income (provision of services through intermediary)

Motion made and Question put,

That-

(1) In section 49(1)(a) of the Income Tax (Earnings and Pensions) Act 2003, for "for the purposes of a business carried on by another person" there shall be substituted "for another person".

(2) Section 49(2) of that Act shall be omitted.

(3) In section 56(7) of that Act-

(a) at the end of paragraph (a) there shall be inserted ", and";

(b) paragraph (c) and the word "and" preceding it shall be omitted.

(4) This Resolution shall apply in relation to services performed or due to be performed on or after 10th April 2003.

And it is hereby declared that it is expedient in the public interest that this Resolution should have statutory effect under the provisions of the Provisional Collection of Taxes Act 1968.

The House divided: Ayes 338, Noes 128.

Debate in Parliament | Historical Hansard | Source |