The Budget Summary - Spring 2023

Business Tax -

Corporation Tax - Increased from 19% to 25% with effect from 1st April 2023. Profits under £50,000 remain at 19% , profits between £50000 and £250,000 will receive a tapered rate

Capital Allowances - Super deduction regime ends 31st March 2023

Personal Tax -

Personal Allowance remains at £12,570

Pension - Maximum pension contribution is £60,000 (raised from £40,000)