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.
 
TAXABLE COMPANY CAR BENEFITS
When an employer provides a company car to an employee, the tax charge is determined by the carbon dioxide emissions of the car and is regardless of business mileage.
 
Scale charge Calculator
g/km of CO2
2005/06
% of list price
(max £80,000)*
 
 
140
15
 
165
20
 
190
25
 
215
30
 
240
35
 
For intervening figures add 1% to list price for each additional 5g/km of CO2.
* Diesel Supplements - Add 3% to each figure (upto max 35% of list price).
Euro IV approved cars provided prior to 1 January 2006 are not subject to the diesel supplement.
Discounts are available for cars registered on or after 1 January 1998 which run on alternative fuels and technologies.
 
TAXABLE COMPANY CAR FUEL BENEFITS
Where an employer pays for private mileage, the tax charge is determined bythe CO2 emissionsof the car. The same scale charge calculator and supplements will apply as for 'company' car benefits. The relevant % for 'company' car benefits also applies to the deemed list price for the year.
 
2005/06
2004/05
Deemed List price in all cases
£14,400
£14,400


INLAND REVENUE AUTHORISED MILEAGE RATES
Can be received tax free for employees business mileage in 2005/06
 
Cars / Vans
Motorcycles
Bicycles
First 10,000 miles
40p *
24p
20p
Excess over 10,000 miles
25p *
24p
20p
     
IT and NICs are due on payments above these rates. Employees can claim tax relief on any shortfall.
* Increased by 5p per passenger carried on business trips. Passenger must also be an employee who needs to travel on business. No seperate rates for different engine sizes.
 


 
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.