tax tables:
Rates and allowances
INCOME TAX (2018/19)
%
Basic rate £1 – £34,500 20%
Higher rate £34,500 – £150,000 40%
Additional higher rate £150,001 onwards 45%
A starting rate of 10% applies to savings income where it falls within the first £5,000 of taxable income.
Personal allowances (2018/19)
£
Personal allowance 11,850
Car fuel benefit (2018/19)
The base figure for calculating the car fuel benefit is £23,400.
Approved mileage rates (2018/19)
Car and vans: 0 – 10,000 miles 45p per mile
10,000+ miles 25p per mile
Motor cycles 24p per mile
Bicycles 20p per mile
CAPITAL GAINS TAX (CGT) (2018/19)
Standard rate of CGT 10%*
Higher rate of CGT 20%*
Entrepreneurs’ relief rate 10%
Annual exemption £11,700
Entrepreneurs’ relief £10,000,000
*An 8% surcharge applies in respect of residential properties.
NATIONAL INSURANCE (NI) (2018/19)
CLASS 1 (primary)
Earnings up to £162 a week Nil
Earnings between £162 and £892 12%
Earnings over £892 a week 2%
CLASS 1 (secondary)
Earnings up to £162 a week Nil
Earnings over £162 a week 13.8%
CLASS 2
Weekly Contribution – £2.95
Small earnings exception - £6,205
CLASS 3
Weekly contribution - £14.65
CLASS 4
Lower profits limit £8,424
Upper profits limit £46,350
Rate on profits between upper and lower limit – 9%
Rate on profits beyond upper limit - 2%
tax tables: Rates and allowances INCOME TAX (2018/19) % Basic rate £1 – £34,500 20% Higher...
tax tables: Rates and allowances INCOME TAX (2018/19) % Basic rate £1 – £34,500 20% Higher rate £34,500 – £150,000 40% Additional higher rate £150,001 onwards 45% A starting rate of 10% applies to savings income where it falls within the first £5,000 of taxable income. Personal allowances (2018/19) £ Personal allowance 11,850 Car fuel benefit (2018/19) The base figure for calculating the car fuel benefit is £23,400. Approved mileage rates (2018/19) Car and vans: 0 – 10,000 miles 45p...
Rates and allowances INCOME TAX (2018/19) % Basic rate £1 – £34,500 20% Higher rate £34,500 – £150,000 40% Additional higher rate £150,001 onwards 45% A starting rate of 10% applies to savings income where it falls within the first £5,000 of taxable income. Personal allowances (2018/19) £ Personal allowance 11,850 Car fuel benefit (2018/19) The base figure for calculating the car fuel benefit is £23,400. Approved mileage rates (2018/19) Car and vans: 0 – 10,000 miles 45p per mile...
Rates and allowances INCOME TAX (2018/19) % Basic rate £1 – £34,500 20% Higher rate £34,500 – £150,000 40% Additional higher rate £150,001 onwards 45% A starting rate of 10% applies to savings income where it falls within the first £5,000 of taxable income. Personal allowances (2018/19) £ Personal allowance 11,850 Car fuel benefit (2018/19) The base figure for calculating the car fuel benefit is £23,400. Approved mileage rates (2018/19) Car and vans: 0 – 10,000 miles 45p per mile...
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