New Corporation Tax Regime From April 2023

The new CT regime kicks in from April this year. Make sure you are prepared and start thinking about planning to get out of the dreaded marginal rates!

[@bansidepala4850]

Very well explained Simon, made it so easy to understand.

[@simongray2484]

Thanks

[@mgfordhairreplacementstylist]

Perfectly explained :)

[@lawrencer25]

Fabulous video. Thank you very much 👍👍👍🥂🥳🤓

[@KScan-cj5wi]

Thanks Simon....You love it, new years day an all 😀

[@DaBriars]

Well explained Simon Thank you

[@dashazhivaykina7094]

This is so so helpful! Thank you Simon

[@neerajnagarkatti6440]

This is all clear and dandy, thanks!

[@simongray2484]

Thanks, glad you enjoyed it

[@BengaliPsyK]

Very well explained, but Damn the government is sucking the money out of us Small businesses 🥴

[@jameseades1]

First time someone has explained it all this clearly, thank you

[@simongray2484]

Glad you found it useful

[@natakijean-baptiste1746]

Thank you so much

[@ProWhitaker]

Thanks for the video

[@magicaljewels295]

A good video, thank you. Doesn’t seem worth starting a business. Still have dividends tax too!

[@Andy-si1pl]

yes this is the point. I think its targeting small businesses, lifestyle businesses, contractors, etc.

[@SamVat-m2w]

This calculation is wrong! For £100000 gross profit the new corporation tax would be 22.75% NOT 24%.

[@simongray2484]

24% is for £150k gross profit, not £100k, the calculation is correct

[@olgakarunna4528]

If tax period June2022-June2023 how to pay tax? By new rules for profit for hole year or by deviding period in monthes till Apr23 with profit for that monthes 19% and for monthes after Apr23 with new rates? Is it possible to change tax period for Jan-Dec and how?

[@simongray2484]

The period is split and part of it will be subject to the ‘old’ regime and part to the ‘new’. If you shorten the year end to 31 March it will delay the point at which corporate profits will be subject to the new higher rates

[@youngg5099]

is there no personal allowance on profit?

[@simongray2484]

No, companies don’t get ‘personal allowances’ or ‘tax free slices’ like individuals do

[@youngg5099]

@@simongray2484 what if I was a sole trader

[@andreimustea4889]

... 53,000/200=265*1/100=2.65%... no?

[@paulbrindley3414]

Invest your profits before your accounts are due

[@johnporcella2375]

From a presentation viewpoint, you had the space on your whiteboard to write bigger. Hard to read on my tablet.

[@simongray2484]

I do need a bigger board for sure!

[@haba_15]

Would help if your handwriting was clearer