UK Business Alert: Essential Guide to Companies House and HMRC Joint Fil...

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Understanding Current Corporation Tax Rates and Marginal Relief in the UK

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Listen to the MA & CO Podcast Introduction Corporation tax is a key part of running a business in the UK. It is important to know the current corporation tax rates and understand how marginal relief works. This can help you plan for your business expenses and ensure you are not paying more tax than needed. In this guide, we will explain the corporation tax rates and how marginal relief applies to businesses with different levels of profit. 1. Current Corporation Tax Rates (as of 2024) In the UK, corporation tax rates depend on how much profit your company makes. Here are the main rates for 2024: Small Profits Rate : If your company makes up to £50,000 in profits, you will pay 19% in corporation tax. Main Rate : If your company makes more than £250,000 in profits, you will pay 25% . Marginal Rate : If your profits are between £50,001 and £250,000 , you can get marginal relief , which means you pay a rate between 19% and 25% . Taxable Profits (£) Corporation Tax Rate Margin...
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HMRC to Cut 25% of Whitehall Offices 🏢

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The UK Government , through HMRC (His Majesty’s Revenue and Customs) , is making a major change. It plans to reduce its Whitehall estate by 25% . This is part of a bigger effort to save money, support net zero goals , and move public sector jobs out of London. 💡 Why Is This Happening? The plan is part of the Smarter Government Strategy , which aims to: Improve value-for-money reforms Cut government real estate costs Shift towards hybrid working models Support the Levelling Up strategy by moving jobs to regions like Manchester , Leeds , and Birmingham This is managed by the Government Property Agency (GPA) under the Cabinet Office , and monitored by the Public Accounts Committee . 💰 Cost Savings Explained The Whitehall downsizing is expected to save over £1.5 billion in 10 years. 🧮 Example Calculation: 50 buildings x £5,000,000 = £250 million saved yearly £250M x 10 years = £2.5 billion in potential savings These savings come from: Ending expensive building leases Lowering opera...
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Autumn Budget 2024 Policy Paper: Key Highlights, Impacts, and Analysis

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MA & CO Accountants Potcast Introduction The Autumn Budget 2024 was recently announced by the UK government. This budget is very important because it helps decide how money is spent on things like health , education , and public services . The budget is also designed to help people facing high living costs. Let’s explore what this means for everyone. The Autumn Budget focuses on three main areas: Helping with the cost of living . Supporting businesses and public services . Ensuring the government manages public spending and debt effectively. Fiscal Policy Highlights The government has several important fiscal policies to manage how money is spent: Public Spending Announcements : The government has promised to allocate more money to the NHS and schools . This means more doctors, shorter wait times at hospitals, and better facilities in schools. Debt Reduction Rules : New rules were established to reduce the amount the government owes, also known as national debt . This will h...
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