Can you remind me how the new corporation tax rate/bands will apply to a company whose accounting period will straddle 31/3/2023?

As an example, how will the computations proceed for a company with a 12-month accounting period ending 31/07/23 and net taxable trading profits of £135,000? The company is not part of a group but has one ‘associated’ company that is under common control?

Corporation tax applies to the profits of an accounting period based on the rates and bands in force for each of the financial years that the period covers (a financial year runs from 1 April to the following 31 March).