Welcome to Stuart Hoare Chartered Accountants...

Friendly, approachable and professional...

Upfront and transparent affordable fees...

Dedicated to helping you succeed...

Offering a free initial consultation...

Contact Us for your free initial consultation, to see how we can help with your accountancy needs.

Corporation Tax Complexity

by | Mar 23, 2021 | News, Tax | 0 comments

The Chancellor announced that taxes would have to rise, but not quite yet, as all tax rates except for VAT are frozen for 2021-22.

Large companies will then see their corporation tax rate rise from 19% to 25% from 1 April 2023.
Companies making no more than £50,000 year in profits will still pay tax at the current rate of 19%. There will be a system of marginal relief on corporate profits between £50,000 and £250,000, above which the tax rate will be set at 25%.

Companies making no more than £50,000 per year in profits will still pay tax at the current rate of 19%.

Complexity is added for groups and associated companies as the profit thresholds of £50,000 and £250,000 will have to be divided by the number of associated companies. The companies counted as being in a group or associated will be those which are under the common control of a person, a company or a group of persons.

Family companies which are not trading will also pay corporation tax at 25% on all profits

We can work with you to calculate the most tax efficient way to structure your group and extract profits from your company from April 2023.

Further information can be found on the gov.uk website

0 Comments

Submit a Comment

Your email address will not be published. Required fields are marked *

Contact Us

Please give us a call to discuss your requirements and arrange your free initial consultation, or complete our contact form and we will get back to you as soon as possible.

023 9225 4404

87 London Road, Cowplain, Waterlooville, Hampshire, PO8 8XB
Monday - Friday, 9:00am-5:30pm

8 + 13 =

Stuart Hoare Chartered Accountants

87 London Road, Cowplain,
Waterlooville, Hampshire, PO8 8XB

Email Icon

Subscribe to our Newsletter

Join our mailing list to receive the latest news and updates from Stuart Hoare and the financial sector in general.

You have Successfully Subscribed!

Pin It on Pinterest