Corporation Tax Rate Increase in 2023 from 19% to 25%

Corporation tax rate increase from April 2023 will result in the return of the small profit rate and main rate of corporation tax.

Once the corporation tax rate increase takes effect, the applicable corporation tax rates will be 19% and 25%. Businesses with profits of £50,000 or below would still only have to pay 19% under small profit rate (Madan, 2022).

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