Article preview: While personal taxes were broadly left alone in the Budget, apart from the freezing of some thresholds, corporation tax was the big victim of a significant hike. The Chancellor gave businesses advance notice of a big rise in the main rate of corporation tax, which will go up from 19% to 25% in April 2023. However, the corporation tax hike was not as straightforward as it first seemed, with layers of complexity added alongside the higher rate.
Watch out for this when corporation tax goes up
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This 597-word blog post explains the upcoming corporation tax rise along with details of the new super deduction for capital investment. Written on 5th March 2021.
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