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FINANCE ACT 1999. CORPORATION TAX STARTING RATE
- Where in any accounting period the profits of a qualifying company do not exceed the first relevant amount, the company may, instead of making a claim under section 13(1), claim that the corporation tax charged on its basic profits for that period shall be calculated as if the rate of corporation tax were such rate (to be known as the "corporation tax starting rate"), lower than the small companies' rate, as Parliament may from time to time determine. (2) Where in any accounting period the profits of a qualifying company exceed the first relevant amount but do not exceed the second relevant amount, the company may, instead of making a claim under section 13(1), claim that the corporation tax charged on its basic profits for that period shall be- (a) calculated as if the rate of corporation tax were the small companies' rate; and (b) then reduced by the sum specified in subsection (3) below.
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FINANCE ACT 1999. RATE OF INSURANCE PREMIUM TAX
- Subsection (1) above has effect in relation to a premium which falls to be regarded for the purposes of Part III of the Finance Act 1994 (insurance premium tax) as received under a taxable insurance contract by an insurer on or after 1st July 1999. (3) Subsection (1) above does not have effect in relation to a premium which- (a) is in respect of a contract made before 1st July 1999, and (b) falls to be regarded for the purposes of Part III of that Act as received under the contract by the insurer on a date before 1st January 2000, by virtue of regulations under section 68 of that Act (special accounting schemes). (4) Subsection (3) above does not apply in relation to a premium which- (a) is an additional premium under a contract, (b) falls to be regarded for the purposes of Part III of that Act as received under the contract by the insurer on or after 1st July 1999, by virtue of regulations under section 68 of that Act, and (c) is in respect of a risk which was not covered by the contract before 1st July 1999.
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REGISTERING A NEW UK COMPANY OR BUY A READY MADE COMPANY
- Looking for information & guidance regarding how to start your own company in the United Kingdom, how to get your company up and running, how to select the best business form, how to register a company and small business start-up advice? Need a company formations specialist with the prompt service and expert advice? Do you want to register your business in Edinburgh, London, Liverpool, Belfast or Dublin? Have an idea for a business and want to start now? Are you looking to set-up a business in the United Kingdom, Scotland or Ireland? Many small businesses choose to use the services of a formations agent to undertake all of these formalities on their behalf. Whether you are setting up a business or continuing to grow a company, we can help.
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