BRAMHALL GOLF CLUB A year as General Manager

As I sit and reflect on a year in the role as General Manager at Bramhall Golf Club, I can say with absolute honesty that it has been a pleasure. The staff and the members have made me feel very welcome and the year has flown by at and electrifying pace. During the year we have progressed internal projects that were put on hold during Covid. We have pressed on with some course enhancements such as, new tees and bunker renovations and worked hard as a team to improve the experience for our patrons.

The social scene at the club is something to behold. If I could bottle and sell the atmosphere in the clubhouse, I would be a rich man. Since the turn of the year, we have held the Captains welcome, and both the Men’s and Ladies Opening of season which were all extremely well attended. With the soaring cost of living, it is quite something to witness the support the guests alike. During the season we will be concentrating on our course condition, under the guidance of our Course Manager Les Adshead who has more than 50 years’ experience and continuing with our bunker renovation project. As the Autumn approaches we will assess some of our tees for possible renovation and continue to strive to improve our course and facilities.

At Bramhall Golf Club we host a busy schedule of both members and visitor functions throughout the year, catering for a wide variety of events, from parties to funerals.

Should you wish to discuss holding an event at the club please do not hesitate to contact the club office on 0161 4396092 or via email at officeadmin@ bramhallgolfclub.com members offer their club. As we move towards the season we look forward to a busy calendar and delivering the highest possible standards both on and off the course for our members and

Trade and Retail clients welcome

Staffed by experienced local people

Bathroom Design service available

Underfloor Heating Design service available

Specialist supplier of Designer Radiators Find

Large range of Boilers & Radiators in stock

The Corporation Tax ‘Main’ rate increased from 1 April 2023 from 19% to 25% and for the first time in a decade a ‘Small Companies Rate’ was re-introduced to run alongside the ‘Main’ rate and was set at 19%. Companies have of course been used to paying 19% as the ‘Main’ rate since 1 April 2017. The Corporation Tax rate had fallen steadily since it reached its highest ever rate of 52% in the early 1970s but the recent introduction of two rates of corporation tax and the increase from the current 19% to 25% marks the first increase in the tax in nearly 50 years. Following the increase, the UK will still have the lowest Corporation Tax rate in the G7 but this will mean increased Corporation Tax costs of up to 39.4% which will be unwelcome to many businesses who are still recovering from the pandemic. The government had initially planned to introduce further cuts to the Corporation Tax rate but instead took the decision to increase the rate as one of the measures to recoup the costs of increased government spending during the pandemic. The government hopes to raise £18 billion a year as a result of the increase. While the increase to the main rate of Corporation Tax to 25% is grabbing the headlines, the small companies rate means that the Corporation Tax rate will remain the same for smaller companies with profits of less than the lower limit of £50,000. The government estimates that 1.4 million businesses will be unaffected by the increase. However, the last time there was a small profits rate, companies with profits of less than up to £300,000 rather than £50,000 were eligible, so this Corporation Tax increase will affect a much larger proportion of companies than in the past.

Companies with profits over the upper limit of £250,000 will be taxed at 25% on all profits, not just those over £250,000; and companies will pay a marginal rate of tax of 26.5% on their profits if they fall between £50,000 to £250,000. This marginal rate of 26.5% will hit a lot of companies and yet this rate has hardly made the headlines.

Company owners might consider incorporating a second (or more) companies to share profits between them in a bid to keep them below £50,000, but it is important to note that the lower and upper limits which determine the rate of Corporation Tax are reduced where there are other associated companies. Associated companies are companies under the control of one another or under the control of the same person or persons. So, if Mr X owns two companies, these will be associated with each other, and the lower limit (and the £50,000 to £250,000 band) will be halved meaning the small profits rate will no longer apply if the companies have profits over £25,000.

The increase in the Corporation Tax rates, together with the increased dividend tax rate means that the tax effectiveness of operating a business through a company is certainly reduced though there are still many other advantages in having a limited company.

As always, you should speak with your accountant in order to better understand how the new rates of corporation tax impact your company and your circumstances.

Peter Bevan Bevan & Co, Chartered Accountants peter@bevan.co.uk