Headline Tax Rates

Personal

Personal allowance £7,475 (Up to age 64) See Note 1)
Basic rate 20%
Higher rate 40% £35,000 and over (after deducting personal allowance)
Additional rate 50% £150,000 and over(after deducting personal allowance)
Dividend rate 0% If paying Basic rate tax
25% If Higher rated - paid on dividend rec'd.
36.11% on dividends falling within the additional rate (50%) band.
Inheritance 0% Up to Estate Value of £325,000 (Note 2)
40% Estates over £325,000 (Note 2)

Notes

1.Personal allowance may be restricted for individuals with incomes over £100,000.

2. For surviving spouse death after 08-10-07 this may be increased to include the first spouse's unused Nil Rate Band. New rates for estates with charitable bequests.

VAT

Rate from 4 January 2011 20% Registration level £73,000

Corporate

Profits up to £300K 20.00%

Between £300K to £1.5M 27.50%

Over £1.5M 26.00%

(These ranges are reduced if there are associated companies.)

Stamp Duties

Land Tax Non Residential to £150K 0%
£150K to £250K 1%
£250K to £500K 3%
£500K + 4%
Stamp duty Stocks & shares 0.5% (£Nil for consideration up to £1,000)

N.B. THESE ARE THE MAIN RATES OF TAX AND THERE ARE MANY CIRCUMSTANCES THAT MAY DICTATE CHANGES. FOR A COMPLETE UNDERSTANDING PLEASE CONTACT US WITH FULL DETAILS OF YOUR CIRCUMSTANCES.