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<p>Since 2010 the Government has cut the main rate of corporation tax from 28% to
21%. It will fall further to 20% in April 2015. The Small Profits Rate was cut to
20% in April 2011. These corporation tax cuts will be worth around £9.5bn per year
to businesses by 2016-17.</p><p> </p><p>The table below sets out the amount of Corporation
Tax liable for payment by businesses with a registered address in the Ashfield parliamentary
constituency for accounting periods ending in the past five years. The latest year
for which figures are available is 2011-12.</p><p> </p><table><tbody><tr><td><p> </p></td><td><p>2007-08</p></td><td><p>2008-09</p></td><td><p>2009-10</p></td><td><p>2010-11</p></td><td><p>2011-12</p></td></tr><tr><td><p>Corporation
Tax liability (£m)</p></td><td><p>36</p></td><td><p>29</p></td><td><p>26</p></td><td><p>26</p></td><td><p>30</p></td></tr></tbody></table><p>
</p><p> </p><p>Figures on the amount of tax paid, broken down by company size, are
not readily available and could only be provided at disproportionate cost.</p>
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