JWL Accountancy Ltd
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    • Services
      • Accountancy
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      • Companies House forms
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      • Xero
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  • Home
  • Services
    • Accountancy
    • Probate
  • About us
    • Testimonials
    • Blog
  • Contact Us
  • Resources
    • Companies House forms
    • HMRC Forms
  • Cloud Login
    • Xero
    • Kashflow
    • Sage Online
    • Quickbooks
    • Freeagent

Corporation Tax

Corporation tax rates are set for each Financial Year, A Financial Year runs from 1 April to the following 31 March.  


If the accounting period of a company straddles the 31 March, the profits are apportioned on a time basis to each Financial Year.


Up to 31 March 2023 all taxable profits made by a limited company are taxed at 19%.


In the 2021 Spring Budget, the government announced an increase in the Corporation Tax main rate from 19% to 25% for companies with profits over £250,000 together with the introduction of a small profits rate of 19% with effect from 1 April 2023. 


The small profits rate will apply to companies with profits of not more than £50,000, with marginal relief available for profits up to £250,000.


Corporation Tax Rates 

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JWL Accountancy

Rugeley, Staffordshire

01889 597839

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