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Current Tax Data

First Year Allowance (FYA) on certain energy-efficient              100%

plant, machinery and cars up to 50g/km

Annual Investment Allowance (AIA) from 1 January 2019

£1,000,000 (£200,000)

Excludes cars and expenditure already qualifying for FYA

Writing Down Allowance

Expenditure not qualifying for AIA or FYA:

Long-life assets, integral features of buildings,                           6% (8%)

cars over 110g/km.

Rates reduced from April 2019.

Other plant and machinery                                                             18%

 

Structures and Buildings Allowance                                           2%    

From 29 October 2018 straight-line basis

First Year Allowance (FYA) on certain energy-efficient  100%

plant, machinery and cars up to 50g/km

 

Annual Investment Allowance (AIA) from 1 January 2019

£1,000,000 (£200,000)

Excludes cars and expenditure already qualifying for FYA

 

Writing Down Allowance

Expenditure not qualifying for AIA or FYA:

Long-life assets, integral features of buildings,  6% (8%)

cars over 110g/km.

Rates reduced from April 2019.

Other plant and machinery 18%

 

Structures and Buildings Allowance 2%    

From 29 October 2018 straight-line basis

Individuals                                       2019/20       2018/19

Exemption                                        £12,000        £11,700

Standard rate                                   10%               10%

Higher/additional rate                    20%               20%

Trusts

Exemption                                        £6,000          £5,850

Rate                                                   20%               20%

Individuals                                       2019/20     

Exemption                                        £12,000

Standard rate                                   10%

Higher/additional rate                    20%

Trusts

Exemption                                        £6,000

Rate                                                   20%

 

Individuals                                       2018/19

Exemption                                        £11,700

Standard rate                                   10%

Higher/additional rate                    20%

Trusts

Exemption                                         £5,850

Rate                                                    20%

Company cars 2019/20

CO2 emissions g/km                  Percentages of car’s list price taxed

0 – 50                                            16

51 – 75                                          19

76 – 94                                          22

For every additional 5                 Additional 1%

165 and above                             37% (maximum)

 

For diesel cars generally add a 4% supplement (unless the car is registered on or after 1 September 2017 and meets Euro 6d emissions standard) but the maximum is still 37%.

For emissions over 94 g/km if the C02 figure does not end in a 5 or 0 round down to the nearest 5 or 0

 

                                                       2019/20

Car fuel benefit                            £24,100

Van benefit                                   £3,430

Van fuel benefit                           £655

 

Cars and van                               Rate per mile

mileage allowance                  

Up to 10,000 miles                     45p

Over 10,000 miles                      25p

Company cars 2019/20

CO2 emissions g/km                  Percentages of car’s list price taxed

0 – 50                                              16

51 – 75                                            19

76 – 94                                            22

For every additional 5                 Additional 1%

165 and above                            37% (maximum)

 

For diesel cars generally add a 4% supplement (unless the car is registered on or after 1 September 2017 and meets Euro 6d emissions standard) but the maximum is still 37%.

For emissions over 94 g/km if the C02 figure does not end in a 5 or 0 round down to the nearest 5 or 0

 

                                                       2019/20

Car fuel benefit                            £24,100

Van benefit                                    £3,430

Van fuel benefit                           £655

 

Cars and van                               Rate per mile

mileage allowance                  

Up to 10,000 miles                     45p

Over 10,000 miles                      25p

                                     Rate %                                            Rate %

Year 31.3.20               19             Year to 31.3.19            19

Different rates apply for ring-fenced (broadly oil industry) profit.

Rate (Year 31.3.20) %  19

Rate (Year 31.3.19) %  19

Different rates apply for ring-fenced (broadly oil industry) profit.

 

Rates and brands (other than savings and dividend income)

 

               2019/2020                                       2018/2019

 Band £                      Rate %             Band £                      Rate %

 0 – 37,500                20                    0 – 34,500                 20

 37,501 – 150,000    40                    34,501 – 150,000     40

 Over 150,000           45                    Over 150,000            45

 

Saving Income                                  2019/20 and 2018/19

Saving allowance basic rate            £1,000

Saving allowance higher rate          £500

A starting rate of 0% may be available unless taxable non-savings income exceeds £5,000.

 

Dividend Income                               2019/20 and 2018/19

Dividend allowance                          £2,000

Dividend ordinary rate                      7.5%

Dividend upper rate                          32.5%

Dividend additional rate                  38.1%

Rates and brands (other than savings and dividend income)

2019/2020                                       

Band £                     Rate %

 0 – 37,500                20

 37,501 – 150,000    40

 Over 150,000          45

2018/2019       

Band £                     Rate %

0 – 34,500                 20

34,501 – 150,000     40

Over 150,000            45

 

Saving Income                                  2019/20 and 2018/19

Saving allowance basic rate            £1,000

Saving allowance higher rate          £500

A starting rate of 0% may be available unless taxable non-savings income exceeds £5,000.

 

Dividend Income                               2019/20 and 2018/19

Dividend allowance                          £2,000

Dividend ordinary rate                     7.5%

Dividend upper rate                         32.5%

Dividend additional rate                 38.1%

Death rate        Lifetime rate          Chargeable transfer (2019/20 & 2018/19)

Nil                      Nil                            0 – £325,000 (nil rate band)

40%                   20%                          Over £325,000

A further nil rate band of £150,000 (£125,000 for 2018/19) may be available in relation to current or former residences.

Death rate    

Nil

40%

 

Lifetime rate     

Nil

20%

 

Chargeable transfer (2019/20 & 2018/19)

0 – £325,000 (nil rate band)

Over £325,000

 

A further nil rate band of £150,000 (£125,000 for 2018/19) may be available in relation to current or former residences.

Payment Dates                                               2019/20       2018/19

Income Tax and Class 4 NIC

1st payment on account    31 January       2020              2019

2nd payment on account  31 July               2020              2019

Balancing payment            31 January        2021              2020

Class 2 NIC                         31 January        2021              2020

Capital Gains Tax              31 January        2021              2020

Class 1A NIC                      19 July               2020              2019

 

Corporation Tax – 9 months and one day after the end of the accounting period (quarterly instalments if a large company)

 

2018/19 Returns Filing Deadlines:

31 May 2019 – P60s to employees

6 July 2019 – P11D and P11D(b) and copies to employees

31 October 2019 – Paper Self Assessment Tax Return (SATR)

30 December 2019 – SATR Online where outstanding tax (subject to cap) to be included in 2020/21 PAYE code

31 January 2020 – SATR Online

Payment Dates                                               2019/20         

Income Tax and Class 4 NIC

1st payment on account    31 January       2020

2nd payment on account  31 July               2020

Balancing payment            31 January        2021

Class 2 NIC                           31 January        2021

Capital Gains Tax                31 January        2021

Class A1 NIC                       19 July               2020

 

Payment Dates                                           2018/19

Income Tax and Class 4 NIC

1st payment on account    31 January       2019

2nd payment on account  31 July               2019

Balancing payment            31 January        2020

Class 2 NIC                         31 January        2020

Capital Gains Tax               31 January        2020

Class 1A NIC                      19 July               2019

 

Corporation Tax – 9 months and one day after the end of the accounting period (quarterly instalments if a large company)

2018/19 Returns Filing Deadlines:

31 May 2019 – P60s to employees

6 July 2019 – P11D and P11D(b) and copies to employees

31 October 2019 – Paper Self Assessment Tax Return (SATR)

30 December 2019 – SATR Online where outstanding tax (subject to cap) to be included in 2020/21 PAYE code

31 January 2020 – SATR Online

201/20 Class 1 (employed) rates

Employee                                       Employer

Earnings per week      %               Earnings per week      %

Up to £166                   Nil              Up to £166                    Nil

£166.01 – £962          12               Over £166                    13.8

Over £962                     2

 

Entitlement to contribution-based benefits for employees retained for earnings between £118 and £166 per week.

The employer rate is 0% for employees under 21 and apprentices under 25 on earnings up to £962 per week.

 

Class 1A (employers) 13.8% on employee taxable benefits

Class 1B (employers) 13.8% on PAYE settlement agreements

Class 2 (self-employed) flat rate per week £3.00 small profits threshold £6,365 per annum

Class 3 (voluntary) flat rate per week £15.00

Class 4 (self-employed) 9% on profits between £8,632 and £50,000 plus 2% on profits over £50,000

 

201/20 Class 1 (employed) rates

Employee                                      

Earnings per week      %             

Up to £166                   Nil

£166.01 – £962           12

Over £962                     2

 

Employer                           

Earnings per week      %               

Up to £166                    Nil

Over £166                     13.8

 

Entitlement to contribution-based benefits for employees retained for earnings between £118 and £166 per week.

The employer rate is 0% for employees under 21 and apprentices under 25 on earnings up to £962 per week.

Class 1A (employers) 13.8% on employee taxable benefits

Class 1B (employers) 13.8% on PAYE settlement agreements

Class 2 (self-employed) flat rate per week £3.00 small profits threshold £6,365 per annum

Class 3 (voluntary) flat rate per week £15.00

Class 4 (self-employed) 9% on profits between £8,632 and £50,000 plus 2% on profits over £50,000

                                                                      2019/20             2018/19

Lifetime Allowance limit                           £1,055,000          £1,030,000

Annual Allowance limit                             £40,000               £40,000

Money Purchase Annual Allowance       £4,000                  £4,000

                                                                      2019/20            

Lifetime Allowance limit                           £1,055,000

Annual Allowance limit                             £40,000

Money Purchase Annual Allowance       £4,000

                                                                       2018/19

Lifetime Allowance limit                           £1,030,000

Annual Allowance limit                             £40,000

Money Purchase Annual Allowance       £4,000

                                                                   2019/20    2018/19

Weekly benefit                                              £                £

Basic State Pension                                129.20       125.95

New State Pension                                  168.60       164.35

Statutory pay standard rates

– Average weekly earnings £118 (£116) or over

Sick Pay                                                    94.25         92.05

Maternity/Adoption Pay                         148.68       145.18

Shared Parental Pay                                148.68      145.18

Paternity Pay                                             148.68      145.18

 

National Living Wage and National Minimum Wage

Age                                NLW      21-24     18-20   16-17    Apprentices

From 1 April 2019       £8.21    £7.70     £6.15    £4.35    £3.90

Applies to apprentices under 19, or 19 and over in the first year of apprenticeship. NLW applies to those aged 25 and over.

                                                                   2019/20  

Weekly benefit                                              £               

Basic State Pension                                129.20

New State Pension                                  168.60

                                                                   2018/19

Weekly benefit                                              £              

Basic State Pension                                125.95

New State Pension                                  164.35

Statutory pay standard rates

– Average weekly earnings £118 (£116) or over

                                                                   2019/20

Sick Pay                                                    94.25

Maternity/Adoption Pay                         148.68

Shared Parental Pay                                148.68

Paternity Pay                                             148.68

                                                                   2018/19

Sick Pay                                                    92.05

Maternity/Adoption Pay                         145.18

Shared Parental Pay                                145.18

Paternity Pay                                             145.18

National Living Wage and National Minimum Wage

From 1 April 2019 

NLW                  £8.21

21 – 24              £7.70

18 – 20              £6.15

16 – 17              £4.35

Apprentices    £3.90

Applies to apprentices under 19, or 19 and over in the first year of apprenticeship. NLW applies to those aged 25 and over.

Land and buildings in England and N. Ireland

Residential rates may be increased by 3% where further residential properties are acquired.

 

Residential (£)             Rate (%)         Non-residential (£)      Rate (%)

0 – 125,000                   0                     0 – 125,000                   0

125,001  -250,000         2                    150,001 – 250,000        2

250,001 – 925,000       5                     Over 250,000                 5

925,001 – 1,500,000   10

Over 1,500,000             12

 

First-Time buyer relief may apply to residential purchases up to £500,000.

Land and buildings in England and N. Ireland

Residential rates may be increased by 3% where further residential properties are acquired.

 

Residential (£)             Rate (%)           

0 – 125,000                   0

125,001  -250,000       2

250,001 – 925,000       5

925,001 – 1,500,000   10

Over 1,500,000           12

 

Non-residential (£)              Rate (%)

0 – 125,000                            0

150,001 – 250,000                 2

Over 250,000                         5

 

First-Time buyer relief may apply to residential purchases up to £500,000.

                                                            From 01.04.19      From 01.04.18

Standard Rate                                  20%                         20%

Reduced Rate                                   5%                           5%

Annual Registration Limit              £85,000                  £85,000

Annual Deregistration Limit           £83,000                  £83,000

From 01.04.19     

Standard Rate                                  20%

Reduced Rate                                   5%

Annual Registration Limit              £85,000

Annual Deregistration Limit           £83,000

 

From 01.04.18

Standard Rate                                  20%

Reduced Rate                                   5%

Annual Registration Limit              £85,000

Annual Deregistration Limit           £83,000