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Tax Data

2018/19 2017/18
INCOME TAX (non dividend income)
Basic personal allowance (under 65) £11,850 £11,500
restricted for higher rate tax payers
20% Basic rate income tax £11,851 to £46,350 £11,501 to £45,000
40% Higher rate income tax £46,351 - £150,000 £45,001 - £150,000
Additional rate tax above £150,000 45% 45%
INCOME TAX (dividend income)
7.5% Lower rate £11,851 to £46,350 £11,501 to £45,000
32.5% Higher rate £46,351 - £150,000 £45,001 - £150,000
38.1% Additional rate Above £150,000 Above £150,000
ANNUAL PERSONAL ALLOWANCES
Married couple's allowance
- 75 and over £8,695 £8,455
- Minimum amount £3,360 £3,260
Income limit for personal allowances
- Under 65 £100,000 £100,000
Blind person's allowance £2,390 £2,320
Personal savings allowance
- Basic rate taxpayers £1,000 £1,000
NATIONAL INSURANCE
Lower earnings limit (per week) £116 £113
Primary threshold (per week) £162 £157
Upper earnings limit £892 £866
Employees Class 1 rate
-between lower & upper limits 12% 12%
-above upper limit 2% 2%
Employers Class 1 rate 13.8% 13.8%
Class 2 rate (per week) £2.95 £2.85
Employees Class 4 rate
- between lower & upper limits 9% 9%
- above upper limit 2% 2%
CAPITAL GAINS TAX
Rate
- Basic rate tax payer 10% 10%
- Higher rate tax payer 20% 20%
Annual exemption £11,700 £11,300
Entrepreneurs relief lifetime limit £10,000,000 £10,000,000
Entrepreneurs rate 10% 10%
The 2016/17 reduction does not
apply to residential property
INHERITANCE TAX
Single persons nil rate band £1 - £325,000 £1 - £325,000
Married couples nil rate band £650,000 £650,000
Tax rate 40% 40%
CORPORATION TAX
All profits and gains 19% 19%
VAT
Registration threshold £85,000 £83,000
Deregistration threshold £83,000 £81,000
Flat rate scheme threshold £150,000 £150,000
Cash accounting scheme £1,350,000 £1,350,000
STAMP DUTY LAND TAX (SDLT) Rate incremental
Residential
- Nil rate £0 - £125,000 £0 - £125,000
- 2% rate £125,001-£250,000 £125,001-£250,000
- 5% rate £250,001-£925,000 £250,000-£925,000
- 10% rate £925,001 - £1.5M £925,001 - £1.5M
- 12% rate Over £1.5M Over £1.5M
There is a 3% surcharge on
the purchases of additional residential
properties. Reduced rates are available
for first time buyers.
Non-residential
- Nil rate £0 - £150,000 £0 - £150,000
- 1% rate N/A £150,001-£250,000
- 2% rate £150,001-£250,000 £150,001-£250,000
- 3% rate N/A £250,001-£499,999
- 4% rate N/A Over £500,000
- 5% rate Over £500,000 Over £500,000
STAMP DUTY
On shares 0.5% 0.5%
(and marketable securities)
                                       

 

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