Graeme Robb looks under the bonnet of corporation tax and explains everything advisers need to know
Back in spring 2021, then-Chancellor Rishi Sunak announced an increase to 25% from 1 April 2023 to the headline corporation tax rate applying to profits of more than £250,000. A small profits rate (SPR) was introduced for companies with profits of £50,000 or less so they could continue to pay corporation tax at 19%. The SPR does not apply to ‘close investment-holding companies'. For example, a company controlled by a small number of people which doesn't exist wholly, or mainly for the purpose of trading commercially, or investing in land for (unconnected) letting. A Family Investmen...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
