Blogs about financial matters
Most readers would acknowledge that corporation tax year-end planning is not what it once was. This is due mainly to the abolition of the different rates of corporation tax that previously applied to ‘large’ and ‘small’ company taxable profits. Corporation tax was a flat rate of 20% for most company profits for the financial year beginning on 1 April 2016. This rate falls to 19% for the year beginning on 1 April 2017 and is currently forecast to fall to 17% for the year beginning 1 April 2020.
Life as an Entrepreneur means hard work, taking risks with your money, in fact, success is only achieved through blood sweat and tears. How frustrating then if the Tax man takes more from your business than you do through Corporation Tax, VAT, National Insurance, personal income tax, Capital Gains Tax, to name but a few.