From my accountant re: the Autumn statement:
From 1st April 2023:
- - Companies that make a taxable profit of £50,000 or less per year will continue to pay Corporation Tax at the ‘small profits rate’ of 19%
- - Companies with taxable profits between £50,001 and £250,000 a year will pay Corporation Tax at a rate of 25% with a ‘marginal rate relief’ deduction
- - Companies with taxable profits of £250,001 or more a year will pay Corporation Tax at a rate of 25%
- I had missed this detail during the statement itself, what is the relief deduction and has the detail already been given? I imagine that's the category many if not most of us here are in.
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