HMRC manual changes: 11 April 2023

Direct taxes

Manual	Page	Comments
Company Taxation Manual	Updated: CTM03955	Clarification in the context of the small profits rate provisions that where apportioning profits because an accounting period straddles financial years for which the lower or upper limits for marginal relief differ from those of the preceding financial year this is done on a strict time basis. Amendment also made to state that where accounting periods straddle 1 April 2023 and the parts falling before and after are treated as separate accounting periods total profits are apportioned between those on a time basis with the small profits rate provisions apply to the period from 1 April 2023.
Corporate Finance Manual	Updated: CFM95620 CFM95630 CFM95730 CFM95830 CFM96220 CFM96280 CFM95480...

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Direct taxes

Manual	Page	Comments
Company Taxation Manual	Updated: CTM03955	Clarification in the context of the small profits rate provisions that where apportioning profits because an accounting period straddles financial years for which the lower or upper limits for marginal relief differ from those of the preceding financial year this is done on a strict time basis. Amendment also made to state that where accounting periods straddle 1 April 2023 and the parts falling before and after are treated as separate accounting periods total profits are apportioned between those on a time basis with the small profits rate provisions apply to the period from 1 April 2023.
Corporate Finance Manual	Updated: CFM95620 CFM95630 CFM95730 CFM95830 CFM96220 CFM96280 CFM95480...