The Business tax rate for base rate entities is 26% for the 2020/21 FY.  Businesses who don’t meet the base rate criteria will be taxed at a rate of 30%. For Sole Traders and Partnerships, you’ll be taxed at your individual income tax rate which ranges with your income.  If you are operating in one of these structures it may be worth considering transitioning to a company-based structure to lower your business tax rate. Get in touch with us today!