We wish you all a Happy New Year and would like to welcome Lisa Perkins to our Company. Lisa joined Allen Tomas & Co in January 2018 as a Paraplanner. Having worked in the Financial Services Industry for over 30 years with a large Pension Provider, she gained a wealth of pension knowledge and obtained the Financial Planning Certificate. Lisa is currently working towards her Diploma in Financial Planning with the CII and hopes to achieve this soon. During her spare time Lisa enjoys travel and experiencing the many pub walks Norfolk has to offer.
The planned increases to Corporation Tax Rates and what these mean for small business owners. Who will be affected? The corporation tax ‘main rate’ (currently 19%) is scheduled to increase considerably to 25% by April 2023. A new ‘small profits rate’ is also being introduced for business which make less than £50,000 profit a year. The main rate will be applied to businesses making more than £250,000 profit a year, with a ‘tapering’ of the two rates between these amounts. Those companies under this lower £50,000 threshold will find themselves relatively unaffected by the new measures. Businesses which find themselves between these rates will arguably be affected worst, having smaller profits to pay the extra tax from. For these companies, particularly which find themselves just over each of the limits announced, or indeed the tapering limits yet to be confirmed; additional tax planning will become an essential exercise going forward. Fortunately, these same companies will have more op
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