The corporation tax rates rules can be complex. Emma Rawson (ATT) looks at the particular difficulties facing corporate members of LLPs.
The corporation tax rules changed dramatically from 1 April 2023 when the previous simplicity of a single corporation tax rate was replaced with a main rate of 25% and a small profits rate of 19%. These new rates brought with them a number of accompanying complexities including topics such as marginal relief and associated companies.
Although it is well over a year since this change in many cases the first corporation tax returns reflecting the new rates are only now being prepared. This has brought a number of practical issues into focus particularly when it comes to more complicated arrangements.
This article provides a short recap of how the new corporation tax rates work before addressing some of the particular challenges when it comes...
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The corporation tax rates rules can be complex. Emma Rawson (ATT) looks at the particular difficulties facing corporate members of LLPs.
The corporation tax rules changed dramatically from 1 April 2023 when the previous simplicity of a single corporation tax rate was replaced with a main rate of 25% and a small profits rate of 19%. These new rates brought with them a number of accompanying complexities including topics such as marginal relief and associated companies.
Although it is well over a year since this change in many cases the first corporation tax returns reflecting the new rates are only now being prepared. This has brought a number of practical issues into focus particularly when it comes to more complicated arrangements.
This article provides a short recap of how the new corporation tax rates work before addressing some of the particular challenges when it comes...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
