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.
 
VALUE ADED TAX
       
Standard rate - 17.5%      
VAT fraction of gross price - 7/47      
Reduced rate - 5&  

Annual turnover limits in last 12 months ( or in next 30 days )
   
From 1 April 05
£
From 1 April 04
£
Registration  
60,000
58,000
Deregistration  
58,000
56,000
Annual Accounting - turnover limit pa  
660,000
660,000
Cash Accounting - turnover limit pa  
660,000
660,000
       
Fuel for private use - VAT due per car 2005/06 (from 1st May 2005)
 
Yearly
Quarterly
Monthly
 
Petrol
Diesel
Petrol
Diesel
Petrol
Diesel
 
£
£
£
£
£
£
Up tp 1,400cc
985
945
246
236
82
78
1,401 - 2000cc
1,245
945
311
236
103
78
Over 2,000cc
1,830
1,200
457
300
152
100


 
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.