| Tax
allowances |
|
|
Personal allowance |
5,225 |
|
Over Age 65 – Personal Allowance
|
7,550 |
|
Over Age 65 – Married Allowance
|
6,285 |
|
Capital Gains Threshold
|
9,200 |
National Insurance |
|
|
Ees & Ers Weekly -
Lower Limit |
100 |
|
Employees Weekly - Upper
Limit - 1% Above |
670 |
|
Ees & Ers Annual -
Lower Limit |
5,225 |
|
Employees Annual - Upper
Limit - 1% above |
34,840 |
|
Employees Rate |
11.0% |
|
Employers Rate |
12.8% |
|
Class II - Self Employed
@ £2.20 per week |
4,635 |
|
Class IV - Self Employed
@ 8% above |
5,225 |
Tax Rates |
|
|
10% on first |
2,230 |
|
22% on next |
32,370 |
|
Higher Rate at 40% on taxable
earnings over |
34,600 |
Corporation Tax |
|
|
Small Companies Rate at
20% up to |
300,000
|
Inheritance Tax |
|
|
IHT Threshold |
300,000 |
VAT Threshold |
|
|
Registration turnover limit |
64,000
|
|