Corporation Tax increases from April 2023

Please see our simple guide to the Corporation Tax increases from April 2023

From April 2023, the planned increase in the corporation tax rate to 25% for companies with over £250,000 in profits will go ahead. Small companies with profits up to £50,000 will continue to pay corporation tax at 19%. Companies with profits between £50,000 and £250,000 will pay tax at the main rate reduced by a marginal relief providing a gradual increase in the effective corporation tax rate.

Our guide covers some of the basics of the calculations of marginal relief, associated companies and apportioning profits if the company year runs past April 2023.