PAGES: 169
ISBN: 9781911020752

The Company Tax Changes

and How to Plan for Them

By Carl Bayley BSc FCA

This guide covers the four major tax changes affecting company owners:

It's essential reading for ALL company owners, including owners of property investment companies.

The new edition was published in December 2022 and includes many recent tax changes, including those announced in the November Autumn Statement.

From April 2023 there will be three corporation tax rates: 19% (profits £50,000 or less), 26.5% (profits between £50,000 and £250,000) and 25% (profits over £250,000). The higher rates affect some companies from as early as May 2022.

This guide shows you how to maximise your tax savings both before and after the increase. In one example a company saves £32,250 by selling an investment property before 1st April 2023.

At present owning more than one company does not affect your tax. In the future owning more than one company (such as a property company) could result in a higher tax bill. Sometimes it will save you tax.

The guide also provides full details of the generous 130% Super Deduction that allows companies to deduct up to 130% of their spending on things like new vans, machinery, furniture and computer equipment.

We also take a look at the new rules for losses that allow some smaller companies to bring in extra tax refunds of up to £76,000 and, finally, optimal salaries and dividends for 2022/23 and 2023/24.

Times Review

What Information is Contained in the Guide?

Like all Taxcafe guides, The Company Tax Changes is written in plain English and contains numerous worked examples and tax planning ideas.

Subjects covered include:

About the Author

Carl began his career as a chartered accountant over 40 years ago and is now one of the country's most respected tax experts. He was Chairman of the Tax Faculty at the Institute of Chartered Accountants in England and Wales (ICAEW) from 2015 to 2018 and served as a member of the institute's governing council for almost 20 years between 2003 and 2023. He has written 20 plain-English tax planning guides and has contributed to newspapers including The Times and The Telegraph, as well as TV and radio programmes such as BBC Radio 2's Jeremy Vine Show.

Carl enjoys his role as a tax author: "The most satisfying part is the chance to give everybody a high standard of information at a very affordable price". As he often says: "My job is to translate tax into English".

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