Course Details

In this session, Carl Bayley will take a detailed look at some of the more complex aspects of the forthcoming Corporation Tax increase, including some of the planning opportunities, the pitfalls to be aware of, and the odd quirks you may not have thought of.

Topics covered will include:

  • The basics: which companies will pay at the new main rate of 25%, how marginal relief works and who will benefit
  • What is an associated company, what impact will it have on the company’s tax bill, when does it matter, and when can it be turned to advantage?
  • Transitional rules for periods spanning 1st April 2023
  • Marginal rate tax planning for companies
  • Implications for optimal profit extraction (salary versus dividends versus other profit extraction methods)
  • When is it still worth incorporating a small business despite the Corporation Tax increase?
  • The leap year quirk

CPD Course Speaker

BSc FCA, Author and Presenter

Carl Bayley

Carl Bayley is the author of a series of ‘Plain English’ tax guides designed specifically for the layperson and the non-specialist (available from www.taxcafe.co.uk). His particular speciality is his ability to take the weird, complex world of taxation and set it out in the kind of clear, straightforward language taxpayers themselves can understand. Carl takes the same approach when speaking on taxation, a role he frequently undertakes with great enthusiasm, including his highly acclaimed annual ‘Budget Breakfast’. He has spoken on taxation on radio and television, including the BBC’s ‘It’s Your Money’ programme and BBC Radio 2’s Jeremy Vine Show.

Carl is a past chairman of the Tax Faculty of the ICAEW and former member of the institute’s governing Council and Board. Aside from his tax books, Carl is an avid creative writer and is looking forward to the publication of his first novel, Trinity of Souls, in January 2024. When he isn’t working, he takes on the equally taxing challenges of hill walking and horse riding: his Munro tally is now 106 and, while he remains a novice rider, his progress is cantering along nicely.

Carl lives in the Scottish Borders, where he enjoys spending time with his partner Linda. He has three children, and his first grandchild arrived in April 2021