![]() (1) In section 79 of FA 2015 (charge to diverted profits tax)â ![]() Rate of diverted profits tax 8 Increase in the rate of diverted profits tax (b) the standard marginal relief fraction is 3/200ths. (a) the standard small profits rate is 19%, and (d) provision making other consequential amendments to provision made by the Corporation Tax Acts. (c) provision making corresponding amendments to Chapter 3A of Part 8 of CTA 2010 (corporation tax rates on ring fence profits), and (b) provision for marginal relief to be given by reference to the standard marginal relief fraction, (a) provision for corporation tax to be charged at the standard small profits rate on profits that are not ring fence profits, (1) Schedule 1 contains the following provision (with effect from 1 April 2023)â 7 Small profits rate chargeable on companies from 1 April 2023 (a) is 19% for the financial year 2022, and (1) Corporation tax is charged for the financial years 20. (b) section 57 of ITA 2007 (indexation of allowances) does not apply in relation to the amount specified in section 35(1) of that Act,įor the tax years 2022-23, 2023-24, 2024-26.Ĭorporation tax charge and rates 6 Charge and main rate for financial years 20 (a) section 21 of ITA 2007 (indexation of basic rate limit) does not apply in relation to the basic rate limit, and 5 Basic rate limit and personal allowance for future tax years (2) Accordingly, section 21 of that Act (indexation) does not apply in relation to the starting rate limit for savings for that tax year. (1) For the tax year 2021-22, the amount specified in section 12(3) of ITA 2007 (the starting rate limit for savings) is â£5,000â. 4 Starting rate limit for savings for tax year 2021-22 (2) For the tax year 2021-22 the savings rates of income tax are as followsâ (1) For the tax year 2021-22 the default rates of income tax are as followsâ 3 Default and savings rates of income tax for tax year 2021-22 2 Main rates of income tax for tax year 2021-22įor the tax year 2021-22 the main rates of income tax are as followsâ Income tax is charged for the tax year 2021-22. PART 1 Income tax, corporation tax and capital gains tax Income tax charge, rates etc 1 Income tax charge for tax year 2021-22
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