Commentary

D1.1202 Changes in the rate of corporation tax

Corporate tax
Corporate tax | Commentary

D1.1202 Changes in the rate of corporation tax

Corporate tax | Commentary

D1.1202 Changes in the rate of corporation tax

Although the rate of corporation tax is fixed by reference to financial years, assessments to tax are made by reference to accounting periods. Where an accounting period does not fall entirely within one financial year it may be necessary to apportion the profits of an accounting period on a time basis to the financial years in which the period falls if the rates differ between the two financial periods1. HMRC guidance confirms that no other basis is acceptable2.

Companies with an accounting period beginning before 1 April 2023 and ending after 1 April 2023 will need to apportion the accounting

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