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.
 
CORPORATION TAX
 
 
Year to 31 March taxable profits £
2006
2005
       
Starting rate
Up to 10,000
0%
0%
Lower marginal rate
10,001 - 50,000 *
23.75%
23.75%
Small companies rate
50,001 - 300,000 *
19%
19%
Upper marginal rate
300,001 - 1,500,000
32.75%
32.75%
Standard rate
Over 1,500,000
30%
30%
 

Close investment- holding companies are always chargeable at the standard rate.


Companies with taxable profits of £1,500,000 or more may be liable to quarterly instalment payments on account of tax liabilities. ~

~ All profit limits are reduced pro rata for associated companies and for accounting periods of less that 12 months.

* From the financial year 2004 there is also a non-corporate distribution rate of a maximum of 19%

 

 
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.