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COMPANY CORPORATION TAX RATES

Monday, 13 February 2023 14:15 Last Updated on Monday, 13 February 2023 14:15 Written by admin

From 1 April 2023, there is no longer a single Corporation Tax rate for non-ring fence profits.

At the Budget, the government announced that the Corporation Tax main rate for non-ring fence profits would increase to 25% for profits above £250,000.

A small profits rate of 19% was also announced for companies with profits of £50,000 or less.

Companies with profits between £50,000 and £250,000 will pay tax at the main rate, reduced by a marginal relief. This provides a gradual increase in the effective Corporation Tax rate.

This entry was posted on Monday, February 13th, 2023 at 2:15 pm and is filed under Budget News, Homepage. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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