Headline Tax Rates 2018/19

Personal

Personal allowance £11,850 (see note 1)
Basic rate 20% up to £34,500
Higher rate 40% £34,501 and over (after deducting personal allowance)
Additional rate 45% £150,000 and over
Dividend rate 7.5 % If paying basic rate tax, First £2,000 Nil
32.5 % If higher rated - paid on dividend rec'd.
38.1 % on dividends falling within the additional rate (45%) band.
Inheritance Tax 0% Up to Estate Value of £325,000 (see note 2)
40% Estates over £325,000 (see note 2). A lower rate of 36% may be charged for estates leaving 10% to charity.

Notes

1. Personal allowance may be restricted for individuals with incomes over £122,000. An additional age related allowance may be available for individuals over a certain age.

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.

Contact Us for details.

 

VAT

Rate from 4 January 2011 20%

Registration level (joining from 1 April 2017) £85,000.

Contact Us for details.

 

Corporate

Profits (from 1 April 2017) 19.00%

Annual investment allowance (from 6 April 2014) £500,000 (from 1 January 2016) £200,000.

Changes have been made in the October 2018 budget

Contact us for details.

 

Stamp Duties

Land Tax Non Residential to £150K 0%
£150K to £250K 2%
£250K + 5%

Stamp duty Stocks & shares 0.5% (£Nil for consideration up to £1,000)

Contact Us for residential rates

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.

 

Headline Tax Rates 2017/18

Personal

Personal allowance £11,500 (see note 1)
Basic rate 20%
Higher rate 40% £33,500 and over (after deducting personal allowance)
Additional rate 45% £150,000 and over
Dividend rate 7.5% If paying basic rate tax, First £5,000 at Nil
32.5 % If higher rated - paid on dividend rec'd.
38.1 % on dividends falling within the additional rate (45%) band.
Inheritance Tax 0% Up to Estate Value of £325,000 (see note 2)
40% Estates over £325,000 (see note 2). A lower rate of 36% may be charged for estates leaving 10% to charity.

Notes

1. Personal allowance may be restricted for individuals with incomes over £100,000. An additional age related allowance may be available for individuals over a certain age.

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.

Contact Us for details.

 

VAT

Rate from 4 January 2011 20%

Registration level (joining from 1 April 2017) £85,000.

Contact Us for details.

 

Corporate

Profits (from 1 April 2015) 20.00%

Annual investment allowance (from 6 April 2014) £500,000 (from 1 January 2016) £200,000.

Contact us for details.

 

Stamp Duties

Land Tax Non Residential to £150K 0%
£150K to £250K 2%
£250K + 5%

Stamp duty Stocks & shares 0.5% (£Nil for consideration up to £1,000)

Contact Us for residential rates

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.