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. UK corporation tax is now a flat rate of 19% for most company profits for the financial year beginning 1 April 2017 and is forecast to fall to 17% for the year beginning 1 April 2020. When approaching the financial year end it is important to consider the opportunities that still remain via tax reliefs to optimise working capital and business performance prior to the year end.
Corporation Year End Tax Planning
22nd August, 2018