Tax Table

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

Tax thresholds, rates and codes
Capital Gains Tax
Corporation Tax
Inheritance Tax
Property Stamp Duty

Tax thresholds, rates and codes The amount of Income Tax you deduct from your employees depends on their tax code and how much of their taxable income is above their Personal Allowance. There are different rates for Scotland.

Tax thresholds, rates and codes

PAYE tax rates and thresholds

2018 to 2019

Employee personal allowance

£11,850 per year

UK basic tax rate

20% on annual earnings above the PAYE tax threshold up to £34,500

UK higher tax rate

40% on annual earnings from £34,501 to £150,000

UK additional tax rate

45% on annual earnings above £150,000



Scotland

PAYE tax rates and thresholds

2018 to 2019

Employee personal allowance

£11,850 per year

Scottish starter tax rate

19% on annual earnings above the PAYE tax threshold up to £2,000

Scottish basic tax rate

20% on annual earnings from £2,001 to £12,150

Scottish intermediate tax rate

21% on annual earnings from £12,151 to £31,580

Scottish higher tax rate 41% on annual earnings from £31,581 to £150,000
Scottish top tax rate 46% on annual earnings above £150,000

 

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Rates for Capital Gains Tax

Capital gains tax in 2018/19  

Annual exemption amount

£11,700 for individuals

Standard capital gains tax rate

18% on residential property, 10% on other assets

Higher capital gains tax rate

28% on residential property, 20% on other assets

Your rate of capital gains tax will depend on your other taxable income.

 

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Corporation Tax

Rates 2016/17 2017/18 2018/19
Main rate 20% 19% 19%

 

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Inheritance Tax

Inheritance tax (IHT)

Value of estate

Tax rate

£1 - £325,000 (known as IHT threshold or nil rate band)

0%

Over £325,000

40%

 

Residence nil rate band

Tax year

Residence nil rate band

2017/18

£100,000

2018/19

£125,000
2019/20 £150,000
2020/21 £175,000

 

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