Our Corporation Tax Calculator illustrates how much Corporation Tax your business will have to pay in 2023/2024. Enter the taxable profit for your accounting period to view the amount of Corporation Tax payable on that profit.
As per new Corporation Tax rates, from 1 April 2023 all businesses with a taxable profit of under £50,000 are liable to 19% Corporation Tax. Under the Marginal Relief scheme, for profits between £50,000 and £250,000, the Corporation Tax rate gradually increases, with a maximum of 25% tax rate applicable totaxable profit of £250,000 or more.
Ask us to estimate the Corporation Tax liability for your business, before your financial year ends, so you can take advantage of tax relief applicable to your circumstances.
This calculator is for illustration purposes only. The Calculator is based on the 12-month accounting period fully within the financial year 2023/2024 e.g.- 1 April 2023 to 31 March 2024. Adjustments must be made for shorter periods or periods falling partly into other financial years. There are limitations to claiming the Marginal Relief depending on whether your company has any associated companies. We urge you to seek professional advice to utilise the maximum tax relief available for your circumstances.
© 2010-2023 Business Atrium Limited, UK. All rights reserved.
Credit to Strateggs
+44 (0) 207 617 7126
info@businessatrium.co.uk
businessatrium.co.uk
Correspondence address: 85 Great Portland Street, First Floor, London, England, W1W 7LT
