|
Rates and
Tables
Rates and
Tables
Personal
Allowances
2015/2016 2016/2017
2017/2018 2018/2019
|
Personal Allowance
|
£10,600
|
£11,000
|
£11,500
|
£11,850
|
|
Transferable personal allowance
between spouses
|
£ 1,060
|
£
1,100
|
£ 1,150
|
£1,185
|
|
Age Allowance
(65-74)
|
£10,500
|
|
|
|
|
Age Allowance (75+)
|
£10,660
|
|
|
|
|
Income limit for age allowance
|
£28,900
|
|
|
|
|
Income limit for personal allowance
|
£100,000
|
£100,000
|
£ 100,000
|
£100,000
|
|
Personal Savings Allowance (basic rate tax payers)
|
N/A
|
£1,000
|
£1,000
|
£1,000
|
|
Personal Savings Allowance (higher rate tax
payers)
|
N/A
|
£500
|
£500
|
£500
|
|
Tax Free dividend rate
|
N/A
|
N/A
|
£5,000
|
£5,000
|
Tax rates
2015/2016 2016/2017 2017/2018 2018/2019
|
Basic rate
20%
|
£0 - £31,785
|
£0 - £32,000
|
£0 - £ 33,500
|
£0 - £34,500
|
|
Higher rate 40%
|
£31,786 - £150,000
|
£32,001 - £150,000
|
£33,501 -£150,000
|
£34,501 - £150,000
|
|
Higher Rate Threshold
|
£42,385
|
£43,000
|
£45,000
|
£46,350
|
|
Additional rate 45%
|
Over £150,000
|
Over £150,000
|
Over
£150,000
|
Over £150,000
|
|
Dividend Starter
Rate 0% ****
|
N/A
|
£0 - £5,000
|
£0 - £5,000
|
£0 - £,2000
|
|
Dividend rate (7.5%)
|
N/A
|
£5,001
-
£27,000
|
£5,001 -
£27,000
|
£2,001 - £34,500
|
|
Dividend rate (32.5%)
|
N/A
|
£27,001 -
£89,000
|
£27,001 -
£89,500
|
£27,000 - £88,150
|
|
Dividend rate (38.1%)
|
N/A
|
Over
£89,000
|
Over
£89,501
|
Over £88,151
|
National Insurance
2016/2017 2017/2018 2018/2019
|
Employees rate – Class
1
|
12%
|
12%
|
12%
|
|
Self employed – Class
2
|
£2.80pw
£145.60 pa
|
£2.80 pw
£145.60 pa
|
£2.95 pw
£153.40 pa
|
|
Self employed – Class
4 **
|
9%
|
9%
|
9%
|
|
Small earnings exemption – class
2
|
£5,965
|
£ 6,025
|
£6,205
|
|
Class 4 Limit
|
£8,060
|
£8,164
|
£8,424
|
|
Employees pay NI over
|
£155 pw
|
£ 156 pw
|
£162 pw
|
|
Employers pay NI over
|
£156
pw
|
£ 156
pw
|
£162 pw
|
|
Employers rate
|
13.8%
|
13.8%
|
13.8%
|
|
Employers Allowance
***
|
£2,000
|
£3,000
|
£3,000
|
** rising to 10% from 6th April 2018 and 11% from 6th April
2019
*** not allowed for single director companies
Corporation Tax (Limited Co)
2015/2016 2016/2017 2017/2018
2018/2019
|
All companies
|
20%
|
20%
|
19%
|
19%
|
** reduced to 19% from 2017 and 17% from
2020
Capital Gains Tax
2016/2017 2017/2018
2017/2018
|
Tax Free Allowance
|
£11,100
|
£11,300
|
£11,700
|
|
Entrepreneurs Rate
|
10%
|
10%
|
10%
|
|
Lower rate **
|
18%
|
10%
|
10%
|
|
Higher rate **
|
28%
|
20%
|
20%
|
** depends upon your taxable income – seek
advice
Inheritance Tax
2016/2017
2017/2018
2018/2019
|
Threshold
|
£325,000
|
£325,000
|
£325,000
|
|
House Allowance
|
-
|
-
|
£175,000
|
|
Rate
|
40%
|
40%
|
40%
|
VAT
2015/2016
2016/2017 2017/2018
|
Lower rate
|
5%
|
5%
|
5%
|
|
Main rate
|
20%
|
20%
|
20%
|
|
Gross to Net
Calculation
|
1/6
|
1/6
|
1/6
|
|
Registration Threshold
|
£82,000
|
£83,000
|
£85,000
|
|
Deregistration
Threshold
|
£80,000
|
£81,000
|
£83,000
|
|
Cash Accounting Scheme
|
£1,350,000
|
£1,350,000
|
£1,350,000
|
Capital Allowances
2016/2017
2017/2018
2018/2019
|
New asset limit at 100%
**
|
£500,000
|
£200,000
|
£200,000
|
|
Balance over above
limit
|
18%
|
18%
|
18%
|
|
Cars over 130g CO2
|
10%
|
8%
|
8%
|
HMRC Approved
Mileage Rates
Miles
Up to 10,000 Over
10,000
|
Cars and Vans
|
45p
|
25p
|
|
Motorcycles
|
24p
|
24p
|
|
Pedal Cycles
|
20p
|
20p
|
|
Each passenger same
trip
|
5p
|
5p
|
Company Cars Fuel Benefit Charge
2016/2017 2017/2018
2018/2019
|
Car Fuel Benefit
Multiplier
|
£22,200
|
£22,600
|
£23,400
|
|
Van Fuel Benefit
Charge
|
£598
|
£610
|
£
|
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guide. It is not a substitute for professional advice. Neither QBS Accountants nor its partners or
employees accept any responsibility for loss or damage incurred as a result of acting or refraining from acting
upon anything contained in or omitted from this document. QBS Accountants is a limited liability
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|
