Corporation Tax - April 2023

Corporation Tax is changing in April but what does it mean? Profits up to ￡50,000 will be taxed at 19%; profits between ￡50,000 and ￡250,000 will be taxed at 26.5% and profits over ￡250,000 will be taxed at 25%. The chart below shows the different levels of tax paid between ￡50,000 and ￡250,000 with the effective tax rate demonstrated.