Lee Sharpe looks at the effect of the re-introduction of a swathe of ‘old’ legislation to raise corporation tax revenues by a worried Chancellor for property investment companies in particular.
This article was prompted by one or two queries that have been raised by regular readers of the Tax Insider publications. In it, I hope to allay most concerns in relation to property landlord companies, but also to highlight where those concerns may yet be valid, and what to look out for.
Corporation tax rate hike
The big news for most companies is a return to a significantly higher rate of corporation tax; or, more accurately, that the main rate of corporation tax will rise from 19% to 25%, with effect from 1â¯Aprilâ¯2023.
Those of us (jaded!) advisers