Tax Table

The following tables are for guidance only. These are subject to change and we are not responsible for their accuracy.

Income Tax Allowances
Income Tax Rates & Bands
Capital Gains Tax
Corporation Tax
Inheritance Tax
Property Stamp Duty

 

Income tax allowances

  2017-18
  £ per year
Personal Allowance £11,500
Income limit for personal allowance £100,000
Income limit for married couple’s allowance £28,000
Marriage allowance £1,150
Married couple’s allowance for those born before 6 April 1935:  
Maximum amount of married couple’s allowance £8,445
Minimum amount of married couple’s allowance £3,260
Blind person’s allowance:  
Blind person’s allowance £2,320
Dividend allowance £5,000
Personal savings allowance for basic rate taxpayers £1,000
Personal savings allowance for higher rate taxpayers £500

 

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  2015-16
  £ per year
Personal allowance:
Born after 5 April 1938 £10,600
Born before 5 April 1938 £10,660
Income limit for personal allowance £100,000
Income limit for personal allowances (born before 6 April 1938) £27,700
Marriage allowance £1,060
Married couple’s allowance for those born before 6 April 1935:
Maximum amount of married couple’s allowance £8,355
Minimum amount of married couple’s allowance £3,220
Blind person’s allowance:
Blind person’s allowance £2,290

 

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Income Tax Rates & Bands

 

2016-17

2017-18

Basic rate

20%

20%

Higher rate

40%

40%

Additional rate

45%

45%

Starting rate for savings income

0%

0%

Dividend ordinary rate – for dividends otherwise taxable at the basic rate (effective rate with tax credit)

7.5%

7.5%

Dividend upper rate – for dividends otherwise taxable at the higher rate (effective rate with tax credit)

32.5%

32.5%

Dividend additional rate – for dividends otherwise taxable at the additional rate (effective rate with tax credit)

38.1%

38.1%

Starting rate limit (savings income)

£5,000

£5,000

Basic rate band

£0-32,000

£0-33,500

Higher rate band

£32,001-150,000

£33,500-£150,000

Additional rate band

Over £150,000

Over £150,000


 

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Rates for Capital Gains Tax

Year

2016-17

2017-18

Allowance

£11,100

£11,300

Rate

10% or 20%.
Depending on your tax band.
Except for second homes where
rates remain at 18% and 28%

10% or 20%.
Depending on your tax band.
Except for second homes where
rates remain at 18% and 28%.


 

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Corporation Tax

Rate 2016/17 2017/18
All profits 20% 19%

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


 

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Inheritance Tax

Inheritance tax threshold

From

To

Amount (£)

6 April 2009

5 April 2018

325,000

6 April 2008

5 April 2009

312,000

6 April 2007 5 April 2008 300,000

 

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Property Stamp Duty and Land & Buildings Transaction Tax

Land & Buildings Transaction Tax (Scotland)

Stamp Duty Land Tax

Standard Rate

Higher Rate

£1 to £145,000*

£1 to £125,000*

0%

3%

£145,000 to £250,000

£125,000 to £250,000

2%

5%

£250,000 to £325,000

£250,000 to £925,000

5%

8%

£325,000 to £750,000

£925,000 to £1,500,000

10%

13%

£750,000 plus

£1,500,00 plus

12%

15%


 

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