The UK Parliament has approved the Finance (No. 2) Act 2023, which received royal assent (was enacted) on 11 July 2023. The Act provides for the measures announced as part of the Spring Budget 2023 and is pending publication in the Official Gazette (at the time of writing). Some of the main measures are summarized as follows:
Corporation Tax Rates
The Act includes the standard measure charge corporation tax and sets the main rate at 25% and the small profits rate at 19% for the financial …