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Tax Data

2020/21 2019/20
INCOME TAX (non dividend income)
Basic personal allowance (under 65) £12,500 £12,500
restricted for higher rate tax payers
20% Basic rate income tax £12,501 to £50,000 £12,501 to £50,000
40% Higher rate income tax £50,001 - £150,000 £50,001 - £150,000Additional rate tax above £150,000 45% 45%
INCOME TAX (dividend income)
First £2,000 tax free
7.5% Lower rate £12,501 to £50,000 £12,501 to £50,000
32.5% Higher rate £50,001 - £150,000 £46,351 - £150,000
38.1% Additional rate Above £150,000 Above £150,000
ANNUAL PERSONAL ALLOWANCES
Married couple's allowance
- 75 and over £9,075 £8,915
- Minimum amount £3,510 £3,450
Income limit for personal allowances
- Under 65 £100,000 £100,000Blind person's allowance £2,500 £2,450
Personal savings allowance
- Basic rate taxpayers £1,000 £1,000
NATIONAL INSURANCE
Lower earnings limit (per week) £120 £118
Primary threshold (per week) £183 £166
Secondary threshold (per week) £169 £166
Upper earnings limit £962 £962
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) £3.05 £3.00
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 £12,300 £12,000
Entrepreneurs relief lifetime limit £1,000,000 £10,000,000
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 £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- 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)
Howell & Co has been assisting Online Profiling Ltd since 2005. They couple efficient service with good practical advice and are always extremely helpful and professional.  
Trevor DawesManaging DirectorOnline Profiling Ltd

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