The key thing to remember when looking at Corporation Tax is that it is a tax on profits, not on revenues.
There is also a difference between the statutory tax rate, be it 19% or 25%, and the effective tax rate, which is the amount of corporate tax a company actually pays on its pre-tax profits. There are various reasons for this difference…
To find out more you must read TaxWatch’s Alex Dunnagan in the latest PQ magazine, out now: https://issuu.com/pqpublishing/docs/pq_sept22_multi_
PQ magazine is a total free resource for all part qualified accountants. You can sign up to the free monthly subscription to the eMagazine at www.pqmagazine.com.
