Income Tax Rates
  For individuals and for Discretionary Trusts
Personal Allowances
  Allowances that reduce taxable income and Allowances that reduce tax
Taxable Company Car Benefits
  Scale Charge Calculator, Company Car Fuel Benefits and Inland Revenue Authorised Mileage Rates
Investments
  Investments Limits
Approved Employee Share Incentives
  Enterprise Manangement Incentive, Company Share Option Plan, Share Incentive Plan (Annual limits) and Savings Related Share Option
Pension Contributions
  Pensions
Corporation Tax
  Corporation Tax
Tax Credits
  Tax Credits
Taxable Social Security Benefits
  Main Taxable Social Security Benefits
National Insurance Contribution
  Employee, self employed, employer and voluntary contributions.
Inheritance Tax
  Rates on cumulative transfers and Main Exemptions.
Interest on Tax
  Annual Rates
Capital Gains Tax
  Annual exemptions and Taper relief
Civil Partnership Act 2004
  Civil Partnership Act 2004
Employer Provided Benefits
  Vans, Supported Childcare and Loaned Computing equipment.
Capital Allowances
  Plant & Machinery, Private Motor Cars and Other Items.
Stamp Duty
  Stamp Duty and Land Tax
Value Added Tax ( VAT )
  Vans, Supported Childcare and Loaned Computing equipment.
 
CAPITAL ALLOWANCES
 
 
2005 / 06
2004 / 05
Plant & machinery      
- First Year Allowance - small businesses
40%
50%
  - medium size businesses
40%
40%
- general  
25% ~
25% ~
- long life assets  
6% ~
6% ~
- approved energy-saving items  
100%
100%
- items for refuelling vehicles with
natural gas or hydrogen
 
100%
100%
- water rechnologies  
100%
100%
   
Private motor cars  
- general (max relief £3,000 pa per car)  
25% ~
25% ~
- low emission cars *  
100%
100%
- electrically propelled cars *  
100%
100%
   
Other Items  
Enterprise Zone buildings  
100%
100%
Research & Development  
100%
100%
Hotels, agricultural buildings, dredging  
4% **
4% **
Toll Roads  
4% **
4% **
Industrial buildings  
4% **
4% **
.
~ Reducing balance basis
** Straight line basis


 
Important Notice
Whilst every effort has been made to ensure accuracy, information contained in these Tax Tables may not be comprehensive and readers should not act upon it without seeking professional advice. These figures are based on the budget statement of 16 March 2005 and may be affected by subsequent legislation.