25% Corporation Tax from April 2023
The planned increases in Corporation Tax (CT) rates from April 2023 are now proceeding as originally announced.
The Corporation Tax main rate will increase to 25% from 1 April 2023 for companies with profits over £250,000. A Small Profits Rate (SPR)
Corporation Tax increases from April 2023
The Corporation Tax main rate will increase to 25% from 1 April 2023 for companies with profits over £250,000. A Small Profits Rate (SPR) of 19% will also be introduced from the same date for companies with profits of up to £50,000 ensuring these
Claiming Corporation Tax losses
Corporation Tax relief may be available where a company or organisation makes a trading loss. The loss may be used to claim relief from Corporation Tax by offsetting the loss against other gains or profits of the business in the same accounting
Residential Property Developer Tax
The Residential Property Developer Tax (RPDT) is a new tax on large residential property developers that came into effect on 1 April 2022. The new tax was first announced in February 2021 as part of a package of measures to contribute towards the
Still time to claim super-deduction
There is still time to claim the super-deduction allowance that offers 130% first-year tax relief. The deduction is available to companies until March 2023. The super-deduction is designed to help incorporated businesses finance expansion in the wake
Non-resident company taxation
Non-resident companies with a trading business in the UK are liable to pay UK Corporation Tax on their profits made through a permanent establishment/branch or agency.
If the non-resident company is deemed liable to pay Corporation Tax, then its
Filing and paying company tax returns
If you have recently setup a new limited company or are thinking of doing so then one of the areas that you need to be aware of is the accounts and tax filing regime for companies.
After the end of its financial year, a private limited company must
Corporation Tax – marginal relief from 1 April 2023
The Corporation Tax main rate will increase to 25% from 1 April 2023 for companies with profits over £250,000. A Small Profits Rate (SPR) of 19% will also be introduced from the same date for companies with profits of up to £50,000 ensuring these
Accounting periods for Corporation Tax
Companies often have to contend with having two different company accounting periods. This is because there are different rules for Companies House filings and for HMRC to whom any Corporation Tax due is paid.
The accounting periods can be the same
Corporation Tax – reminder HMRC contact details
HMRC can be called by phone on 0300 200 3410 for help with general Corporation Tax enquiries. You will need your 10-digit Unique Tax Reference (UTR) when calling HMRC and this reference number cannot be provided over the phone.
The UTR is the