Corporation tax rise to 25% from april 2023

March 3, 2021|In KRW Tax news|By Keith Witchell

Let’s start with the worst news first. In a bid to rebalance the books post COVID, Rishi Sunak announced a rise in the Corporation Tax rate to 25% from April 2023 which was higher than expected. Companies making profits up to £50,000 per annum will continue to pay 19%, with those with profits over £250,000 paying 25%, and the rate for companies with profits of £50,000 to £250,000 being on a sliding scale between the two.

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Keith Witchell