Tag Archive: corporation tax

Tax Update: Changes for 2023

Posted 20th December 2022 at 9:35 am

CORPORATION TAX The planned corporation tax reforms are going ahead. From 1 April 2023, the rate of corporation tax that you pay will depend on the amount of your taxable profits. If you are a standalone company with profits of more than £250,000 you will pay corporation tax at a rate of 25% from 6 April 2023. A small profits rate of 19% applies where the profits of a standalone company are £50,000 or less. Where profits are between £50,000 and £250,000, the effective rate is between 19% and 25%. In this band, corporation tax is payable at the rate... Read more

Corporation Tax & VAT Changes for 2021/22: Your essential guide

Posted 7th May 2021 at 8:55 am

In this blog, we outline the key corporation tax and VAT changes that you need to know about for the tax year 2021/22. Look out for our other blogs detailing the changes to other types of tax this tax year.   Corporation Tax The Corporation Tax Rate remains unchanged at 19% for the financial years 2021 and 2022. From April 2023 however, companies with taxable profits of more than £250,000 will pay corporation tax at a main rate of 25%. A small profits rate of 19% will apply to companies with profits of £50,000 or less. Companies with profits of... Read more