Tax Data
2022/23
2021/22
INCOME TAX (non dividend income)
Basic personal allowance (under 65)
£12,570
£12,570
restricted for higher rate tax payers
20% Basic rate income tax
£12,571 to £50,270
£12,571 to £50,270
40% Higher rate income tax
£50,271 - £150,000
£50,271 - £150,000
Additional rate tax above £150,000
45%
45%
INCOME TAX (dividend income)
First £2,000 tax free
8.75% (7.5%) Lower rate
£12,571 to £50,270
£12,571 to £50,270
33.75% (32.5%) Higher rate
£50,271 - £150,000
£50,271 - £150,000
38.1% Additional rate
Above £150,000
Above £150,000
ANNUAL PERSONAL ALLOWANCES
Married couple's allowance
- 75 and over
£9,415
£9,125
- Minimum amount
£3,640
£3,530
Income limit for personal allowances
- Under 65
£100,000
£100,000
Blind person's allowance
£2,600
£2,520
Personal savings allowance
- Basic rate taxpayers
£1,000
£1,000
NATIONAL INSURANCE
Lower earnings limit (per week)
£123
£120
Primary threshold (per week)
£190 (£242 from 6/7/22)
£183
Secondary threshold (per week)
£175
£170
Upper earnings limit
£967
£967
Employees Class 1 rate
-between lower & upper limits
13.25%
12%
-above upper limit
3.25%
2%
Employers Class 1 rate
15.05%
13.8%
Class 2 rate (per week)
£3.15
£3.05
Employees Class 4 rate
- between lower & upper limits
10.25%
9%
- above upper limit
3.25%
2%
CAPITAL GAINS TAX
Rate
- Basic rate tax payer
10%
10%
- Higher rate tax payer
20%
20%
Annual exemption
£12,300
£12,300
Entrepreneurs relief lifetime limit
£1,000,000
£1,000,000
Entrepreneurs rate
10%
10%
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
£85,000
Deregistration threshold
£83,000
£83,000
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-
2% rate
£150,001-£250,000
£150,001-£250,000-
5% rate
Over £500,000
Over £500,000
STAMP DUTY
On shares
0.5%
0.5%
(and marketable securities)