{"id":16428,"date":"2023-07-11T14:20:28","date_gmt":"2023-07-11T13:20:28","guid":{"rendered":"https:\/\/www.langricks.com\/?p=16428"},"modified":"2023-07-11T15:37:39","modified_gmt":"2023-07-11T14:37:39","slug":"how-to-manage-the-corporation-tax-rises","status":"publish","type":"post","link":"https:\/\/dev.withcreative.co.uk\/langricks\/how-to-manage-the-corporation-tax-rises\/","title":{"rendered":"How to manage the Corporation Tax rises"},"content":{"rendered":"<p>From 1st April 2023 the main rate\u00a0of corporation tax increased from 19% to 25% in the following way:<\/p>\n<p>&nbsp;<\/p>\n<p><strong>19% for\u00a0companies with profits below \u00a350,000\u00a0<\/strong><\/p>\n<p><strong>26.5%, marginal relief, for\u00a0companies with profits\u00a0between \u00a350,000 and \u00a3250,000\u00a0<\/strong><\/p>\n<p><strong>25% for companies with profits above \u00a3250,000<\/strong><\/p>\n<p>&nbsp;<\/p>\n<h3>How companies can reduce their taxable profits<\/h3>\n<p>&nbsp;<\/p>\n<ul>\n<li>Pay pension contribution<\/li>\n<li>Buy equipment<\/li>\n<li>Pay a bonus to directors or staff<\/li>\n<li>Accrue any costs that relate to the period<\/li>\n<li>Reduce the value of stock where items are not worth the value they are included at<\/li>\n<li>Make a provision against bad debts<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h3>Items which will not reduce taxable profits<\/h3>\n<p>&nbsp;<\/p>\n<ul>\n<li>Paying dividends<\/li>\n<li>Buying more stock<\/li>\n<li>Extra depreciation<\/li>\n<li>Paying in advance for costs that relate to a future period<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>If you need help submitting your corporation tax return then contact us.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>From 1st April 2023 the main rate\u00a0of corporation tax increased from 19% to 25% in the following way: &nbsp; 19% for\u00a0companies with profits below \u00a350,000\u00a0 26.5%, marginal relief, for\u00a0companies with profits\u00a0between \u00a350,000 and \u00a3250,000\u00a0 25% for companies with profits above \u00a3250,000 &nbsp; How companies can reduce their taxable profits &nbsp; Pay pension contribution Buy equipment [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":16435,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[1],"tags":[],"class_list":["post-16428","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-blog-articles"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>How to manage the Corporation Tax rises - Langricks Chartered Accountants and Business Advisers<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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