Latest News From Beans

21/22 Tax Tables

Corporation tax

The corporation tax rate remains at 19% until 31 March 2023. With effect from 1 April 2023 Corporation tax will be charged as follows:

  • Profits up to £50,000: Small Profits Rate of 19%.
  • Profits over £250,000: Main Rate of 25%.

Profits between £50,000 and £250,000 will be subject to a gradual increase in the corporation tax through marginal tax relief.

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21/22 Tax Tables

Self-Assessment

Self-Assessment Tax Return – the words alone are enough to elicit an inward groan! Many of us procrastinate with our tax return: 1.8 million missed the deadline in January 2021! 

We’ll be the first to admit that it’s not the easiest of jobs, but it can be made so much easier if you do it early. Here are some of the reasons to get it done early and breathe a sigh of relief.

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Self-Assessment

Budget 2021: How it will affect you

The government unveiled their much-anticipated Spring 2021 Budget on 3rd March. This Budget has some far-reaching implications for business owners. There is lots to take in, so to make your life easier, we have reviewed all the information provided by the Government and summarised it below. 

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Budget 2021: How it will affect you