Work out how much extra tax your limited company will pay following the April 2023 Corporation Tax hike.
Read our background article on the CT tax rise.
From 1st April, the main rate of CT rises to 25% for profits over £250,000. The current 19% rate applies to profits of £50,000 or less. An effective 26.5% rate applies to profits between these thresholds.
The calculations above are based on a full company tax year’s exposure to Corporation Tax at the ‘old’ and ‘new’ rates.
If your company’s financial year sits between fiscal tax years, some of your profits may be subject to the new CT rates, and some will be taxed at the ‘old’ 19% rate.
If you have more than one company, you need to be aware of new Associated Companies rules, which make your tax liability calculation more complicated!
This calculator has been provided for illustrative purposes only. Please contact your accountant if you have any questions about your limited company’s tax situation.