Corporation Tax: How The April 2023 Tax Rise Affects SMEs

After multiple policy U-turns and much uncertainty, the main rate of Corporation Tax will rise from 19% to 25% from 1 April 2023,affecting companies with profits of £250,000 and over.

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The legislation provides that small companies with profits up to 50,000 will continue to pay corporation tax at 19%, with profits between the two limits being subject to a tapered rate.

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How does the April tax rise affect SMEs? Read our latest Active Practice update to find out more about Corporation Tax and how the tapered rate applied to small companies will work. apu-feb23-corporation-tax-2023

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If you would like to discuss in more detail any of the issues raised in this article with a member of our team, please call 01772 741200.

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