Under the microscope: Exploring corporation tax advice

Technical insight on the workings of corporation tax

clock • 3 min read

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...

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