Tax charge for firms: total income taxed at the rate specified in the Finance Act, replacing prior maximum marginal rate. Section 167A charges tax on a firm assessable as a firm by levying tax on the firm's total income at the rate specified in the Finance Act of the relevant ... Summary
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Tax charge for firms: total income taxed at the rate specified in the Finance Act, replacing prior maximum marginal rate.
Section 167A charges tax on a firm assessable as a firm by levying tax on the firm's total income at the rate specified in the Finance Act of the relevant year, providing the operative charging mechanism for partnerships and similar entities.
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