Increased Corporate Tax rates are effective from April 2023

Increased corporate tax rates are effective from April 2023

From 1 April 2023, corporation tax will increase to 25% where a company’s profits exceed £250,000 a year. The current 19% rate will however continue to apply where profits are no more than £50,000 a year.

Where a company’s profits fall between £50,000 and £250,000 a year, an effective rate of 26.5% applies to profits in excess of £50,000. Some companies that are connected or in the same corporate group must share these size limits, making the 25% rate more likely to apply.

If you require any further assistance on this. Please contact Andy Webb on 01932 830664 or email andy.webb@wardwilliams.co.uk. 

 

Corporate Tax

About the author

Andrew is the Operations & Business Advisory Director at Ward Williams Ltd having partner responsibility for a portfolio of owner managed business clients covering a wide spectrum of different industries, and which are primarily based around the Weybridge and Bracknell areas. He oversees the Business Services department processes for the timely delivery of year end accounts, tax compliance and company secretarial services.

He has extensive experience of providing accounting, VAT and business tax advice tailored to individual and corporate needs. Andrew can assist in identifying and delivering strategic tax planning solutions. As he acts for a number of property clients, this is one area of specialist interest. He also provides financial and accounting solutions to start-up's, owner managed enterprises and small groups.

Andrew’s primary goal is to provide a prompt and client focused service delivering tangible benefits through providing solutions to client problems and through identifying opportunities to assist in the growth and development of their business.