On The Spot Blogs

2023 Corporation Tax Increase - 7 Ways To Keep It Low

 

INTRODUCTION

For annual group taxable profits over £50k, from 1 April 2023, the corporation tax rate will increase from 19% to 26.5% on additional profits between £50k up to £250k, after which 25% is charged on all profits over £250k.

Therefore reducing profits from say £100k to £50k saves 26.5% of £50k = £13,250. Or on profits in the entire 26.5% tax band from £50k to £250k, you might even get to save 26.5% of £200k, a corporation tax saving of £53k!

NB For close investment holding companies, 25% will apply to all your taxable profits.

 

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Top Five Most Common Tax Queries

Today is the last day of the 2016 tax year and you may be interested to hear the most common tax queries our clients have asked during this tax year. Admittedly, it's not too scientific, but we hope it gives you an idea.

 

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Motivating Staff Tax Efficiently

How can I motivate my staff in a tax efficient way?

 

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