Higher Corporation Tax

**chubba** · 21 March 2007, 13:52

Best to make sure as much of the incoming is spent on essential company items. New iPod, MacBook pro and gert big TV for me this year. All required by the company. Now, how the heck can I get my weekly cider rations through the accounts...

**Bluebird** · 21 March 2007, 13:53

I was surprised that there was no removal of the tax reflief on dividens payamnts - but I guess that would upset all his mates who are shareholders..

**Bluebird** · 21 March 2007, 13:54

Originally posted by chubba

Best to make sure as much of the incoming is spent on essential company items. New iPod, MacBook pro and gert big TV for me this year. All required by the company. Now, how the heck can I get my weekly cider rations through the accounts...

Health & Safety - ensuring your workforce gets at least 1 of it's 5 portions of Fruit & Veg a day...

**rawly** · 21 March 2007, 13:56

Originally posted by Nixon Williams

Corporation Tax will be raised to 20% from April, with 21% from 2007 and 22% from 2008

This is to "tackle" tax motivated incorporations!!

Whilst it is more tax to pay, it is still full steam ahead for Limited Companies!

Alan

Taking into account the other changes, such as the raising of the Upper Tax Limit and NI aligning at the top level - what is the overall % change(of the total tax burden) in 2007, 2008, 2009 of these changes compared to 2006?

Or do you need more time to dust off your calculator.

**Bluebird** · 21 March 2007, 13:59

Originally posted by rawly

Taking into account the other changes, such as the raising of the Upper Tax Limit and NI aligning at the top level - what is the overall % change(of the total tax burden) in 2007, 2008, 2009 of these changes compared to 2006?

Or do you need more time to dust off your calculator.

I can hear the clicks from the abacus as we speak...

**Ivor1** · 21 March 2007, 14:11

Originally posted by Nixon Williams

Corporation Tax will be raised to 20% from April, with 21% from 2007 and 22% from 2008

This is to "tackle" tax motivated incorporations!!

Whilst it is more tax to pay, it is still full steam ahead for Limited Companies!

Alan

Alan, did get any clarification from the budget about the new MSC rules ? I couldnt see anything, if not do you think the IR will attempt to back date NI and Tax for MSC users back to Dec 2004 ?

**basshead** · 21 March 2007, 14:23

Originally posted by Ivor1

Alan, did get any clarification from the budget about the new MSC rules ? I couldnt see anything, if not do you think the IR will attempt to back date NI and Tax for MSC users back to Dec 2004 ?

This doc has more info:

http://www.hm-treasury.gov.uk/media/...rvices_231.pdf

**BillHicksRIP** · 21 March 2007, 14:27

BBC's front page updated at 14:15 says,"He also cut corporation tax from 30p to 28p, while this year's 2p fuel duty rise will be delayed for six months". Have they made a mistake?

-edit - nm. Seen other thread.

**Pondlife** · 21 March 2007, 14:30

Originally posted by BillHicksRIP

BBC's front page updated at 14:15 says,"He also cut corporation tax from 30p to 28p, while this year's 2p fuel duty rise will be delayed for six months". Have they made a mistake?

That's for large companies only!

For small companies (i.e. our ltds) it goes from 19% to 22% over the next 3 years

Higher Corporation Tax