Income Tax
Savings starting rate limit:
Savings starting rate:
Basic rate band:
Basic rate:
Dividend ordinary rate:
Higher rate band:
Higher rate:
Dividend upper rate:
Additional rate band over:
Additional rate:
Dividend additional rate:
£5,000
0%
£0-£37,500
20%
7.5%
£37,501-£150,000
40%
32.5%
£150,000
45%
38.1%
Income Tax Allowances
Personal allowance
Personal allowance:
Income limit for personal allowance:
Marriage allowance
Marriage allowance:
Blind person’s allowance
Blind person’s allowance:
Dividend allowance
Dividend allowance:
Personal savings allowance
Personal savings allowance for basic rate taxpayers:
Personal savings allowance for higher rate taxpayers:
£12,500
£100,000
£29,600
£2,450
£2,000
£1,000
£500
High Income Child Benefit Charge
Arises on income over:
£50,000
Capital Gains Tax
Lower rate:
Higher rate:
Annual exemption (individuals):
Annual exemption (settlements):
Entrepreneurs’ relief (applicable rate):
Entrepreneurs’ relief (lifetime limit):
10%
20%
£12,000
£6,000
10%
£10m
Inheritance Tax
Thresholds
Single person’s threshold:
Combined threshold limit for married couples and civil partners:
Residence nil rate band:
Tax rates
Main rate:
Chargeable on lifetime transfers:
Transfers on or within seven years of death:
Reduced rate:
£325,000
£650,000
£150,000
40%
20%
40%
36%
Tax reductions
0-3 years before death:
3-4 years before death:
4-5 years before death:
5-6 years before death:
6-7 years before death:
0%
20%
40%
60%
80%
Main exemptions
Registered Pensions
Maximum annual tax-efficient gross contributions to age 74 (individuals):
Maximum annual tax-efficient gross contributions to age 74 (employers):
Normal age for accessing benefits:
Lifetime allowance charge (lump sum paid):
Lifetime allowance charge (monies retained):
On cumulative benefits exceeding:
Maximum tax-free lump sum:
£3,600 or 100% of ‘NRE’ to £40,000*
£40,000 less employee contributions
55
55%
25%
£1,055,000**
25%**
National Insurance
Class 1 (not contracted out)
Lower earnings limit (employer):
Lower earnings limit (employee):
Payable on weekly earnings below £166:
Payable on weekly earnings of £166-£962:
Payable on weekly earnings over £962:
n/a
£118
0%
12%
2%
Class 1A
On relevant benefits (employer):
On relevant benefits (employee):
13.8%
n/a
Class 2
Self employed:
Limit of net earnings for exception:
£3 per week
£6,365 per annum
Class 3
Voluntary:
£15 per week
Class 4
Self employed on profits below £8,424:
Self employed on profits £8,424-£50,000:
Self employed on profits above £50,000:
0%
9%
2%
Value Added Tax
Standard rate:
20%
Stamp Duty
Shares & Securities
Certain transfers of shares and securities of £1,000 and over:
Residential Property
Up to £125,000:
The next £125,000 (£125,001-£250,000):
The next £675,000 (£250,001-£925,000):
The next £575,000 (£925,001-£1,500,000):
The remaining amount (the portion above £1,500,000):
0.5%
0%
2%
5%
10%
12%*
ISA & Junior ISA
ISA Annual investment limit:
Lifetime ISA
Help to Buy ISA
Junior ISA Annual investment limit:
£20,000
£4,000
£1,000 then £200/month
£4,368
Corporation Tax
All taxable profits:
19%
Investment Reliefs
Enterprise Investment Scheme Limit:
Enterprise Investment Scheme Limit relief rate:
Venture Capital Trust Limit:
Venture Capital Trust relief rate:
Seed Enterprise Investment Scheme Limit:
Seed Enterprise Investment Scheme relief rate:
£1,000,000
30%
£200,000
30%
£100,000
50%
Accreditations & Trade Bodies
