Augmented profits, associated companies and interaction with QIPs are just some of the issues to consider in advance of the rate change from April, as Nigel Giles and Ben Charles (BDO) explain.
Badged as the ‘cost of strengthening public finances’ the then chancellor Rishi Sunak announced that from 1 April 2023 the main rate of corporation tax (CT) would increase by 6% from its current rate of 19% to 25%. For a while in the summer and autumn of 2022 it appeared that this change would be reversed and indeed an announcement to that effect was made by Kwasi Kwarteng in the first Autumn Statement. However the planned rate rise was recently confirmed in the second Autumn Statement.
The rate change for affected companies and groups is significant representing the largest year on year increase since the early 1970s and...
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Augmented profits, associated companies and interaction with QIPs are just some of the issues to consider in advance of the rate change from April, as Nigel Giles and Ben Charles (BDO) explain.
Badged as the ‘cost of strengthening public finances’ the then chancellor Rishi Sunak announced that from 1 April 2023 the main rate of corporation tax (CT) would increase by 6% from its current rate of 19% to 25%. For a while in the summer and autumn of 2022 it appeared that this change would be reversed and indeed an announcement to that effect was made by Kwasi Kwarteng in the first Autumn Statement. However the planned rate rise was recently confirmed in the second Autumn Statement.
The rate change for affected companies and groups is significant representing the largest year on year increase since the early 1970s and...
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:
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