TAX TABLES

Tax Table

Standard rate 20%
Reduced rate, e.g. on domestic fuel 5%
Registration level from 1/4/16 £83,000
Deregistration level from 1/4/16 £81,000
Flat rate scheme turnover limit £150,000
Cash and annual accounting schemes turnover limit £1,350,000
Rate on profits to 31/3/17 and to 31/3/16 20%
2016/17
Plant and machinery 100% annual investment allowance (first year)
- to 31/12/15 £500,000
- from 1/1/2016 £200,000
Enterprise zone plant and machinery (max €125m per investment project) 100%
Plant and machinery (annual reducing balance) 18%
Patent rights and know-how (annual reducing balance) 25%
Certain long-life assets and integral features of buildings (annual reducing balance) 8%
Energy and water-efficient equipment 100%
Electric vans 100%
Business premises renovation 100%
Motor cars
CO2 emissions of g/km: 75 or less* 76-130 131 or more
Capital allowance: 100% first year 18% pa** 8% pa**
* For new cars only.
** Reducing balance.
Research and development
Capital expenditure 100%
Revenue expenditure
- small/medium-sized companies 230%
- large companies 130%
Taxable amount based on car's list price when new. Charge varies according to CO2 emissions in grams per kilometre.
CO2 g/km Petrol % Diesel %
0-50 7 10
51-75 11 14
76-94 15 18
95-99 16 19
100-104 17 20
105-109 18 21
110-114 19 22
115-119 20 23
120-124 21 24
125-129 22 25
130-134 23 26
135-139 24 27
140-144 25 28
CO2 g/km Petrol % Diesel %
145-149 26 29
150-154 27 30
155-159 28 31
160-164 29 32
165-169 30 33
170-174 31 34
175-179 32 35
180-184 33 36
185-189 34 37
190-194 35 37
195-199 36 37
200+ 37 37
Fuel benefit 2016/17 2015/16
Multiply the CO2 percentage charge used for the car benefit by: £22,200 £22,100
2016/17 2015/16
Zero emission: chargeable amount £634 £630
Other vans: chargeable amount £3,170 £3,150
Fuel: flat charge £598 £594
Rates per mile 2016/17
Cars up to 10,000 business miles 45p per mile
Cars over 10,000 business miles 25p per mile
Motorcycles 24p per business mile
Bicycles 20p per business mile
Qualifying passenger 5p per business mile
Rates 2016/17 2015/16
Starting rate of 0% on savings income up to* £5,000 £5,000
Savings allowance at 0% tax Basic rate taxpayers £1,000 N/A
Higher rate taxpayers £500 N/A
Additional rate taxpayers £0 N/A
Basic rate of 20% on income up to £32,000 £31,785
Maximum tax at basic rate £6,400 £6,357
Higher rate of 40% on income up to £150,000 from £32,001 £31,786
Tax on first £150,000 £53,600 £53,643
Additional rate of 45% on income over £150,000 £150,000
Dividend tax credit N/A 10%
Dividend allowance at 0% tax - all individuals £5,000 N/A
Tax rate on dividends based on Dividend Dividend + tax credits
Basic rate taxpayers 7.5% 10%
Higher rate taxpayers 32.5% 32.5%
Additional rate taxpayers 38.1% 37.5%
Trusts: Standard rate band generally £1,000 £1,000
Rate applicable to trusts (dividends) 38.1% 37.5%
Rate applicable to trusts (other income) 45% 45%
* Not available if taxable non-savings income exceeds the starting rate band.
Child benefit charge
1% of benefit per £100 of income between £50,000 and £60,000.
2016/17 2015/16
Personal (basic) £11,000 £10,600
Personal reduced by £1 for every £2 of net income over £100,000 £100,000
Married couples'/civil partners' transferable allowance £1,100 £1,060
Personal (age) if born before 6/4/38* N/A £10,660
Married couples'/civil partners' allowance at 10%* (if at least one born before 6/4/35)
- maximum £8,355 £8,355
- minimum £3,220 £3,220
Blind person's allowance £2,290 £2,290
Rent-a-room tax-free income £7,500 £4,250
* Reduced by £1 for every £2 of income over £27,700, until basic reached.
Non-domicile remittance basis charge after UK residence in at least:
7 of the last 9 tax years £30,000 £30,000
12 of the last 14 tax years £60,000 £60,000
17 of the last 20 tax years £90,000 £90,000
Class 1 2016/17 2015/16
Employee Employer Employee Employer
NIC rate  12%  13.8% 12% 13.8%
No NICs (under 21*) on the first £155 pw £827 pw £155 pw £815 pw
No NICs (21 and over*) on the first £155 pw £156 pw £155 pw £156 pw
NICs rate charged up to £827 pw No limit £815 pw No limit
2% NICs on earnings over £827 pw N/A £815 pw N/A
Certain married women 5.85% 13.8% 5.85% 13.8%
* For 2016/17, 25 for apprentices.
Contracted-out rebate on salary-related scheme 2016/17 2015/16
Reduction on band earnings N/A £112-£770 pw
Employer rate reduction N/A 3.4%
Employee rate reduction N/A 1.4%
Employment allowance 2016/17 2015/16
Payable per business - not available in 2016/17 if a director is the sole employee £3,000 £2,000
Earnings limits and thresholds 2016/17 2015/16
 Weekly   Monthly   Annual  Weekly  Monthly  Annual 
£ £ £ £ £ £
Lower earnings limit 112 486 5,824 112 486 5,824
Primary earnings threshold 155 672 8,060 155 672 8,060
Secondary earnings threshold 156 676 8,112 156 676 8,112
Upper earnings limit and upper secondary threshold (under 21*) 827 3,583 43,000 815 3,532 42,385
* For 2016/17, 25 for apprentices.
Class 1A Employer 2016/17 2015/16
On car & fuel benefits and most other taxable benefits 13.8% 13.8%
Self-employed Class 2 2016/17 2015/16
Flat rate £2.80 pw £145.60 pa
£2.80 pw £145.60 pa
Self-employed 2016/17 2015/16
Small profits threshold £5,965 pa £5,965 pa
Self-employed Class 4 2016/17 2015/16
On profits £8,060-£43,000 pa: 9% £8,060-£42,385 pa: 9%
Over £43,000 pa: 2% Over £42,385 pa: 2%
Class 3 2016/17 2015/16
Flat rate £14.10 pw £733.20 pa £14.10 pw £733.20 pa
Class 3A
If reached state pension age before 6/4/16, amount depending on age.
Rates 2016/17 2015/16
Tax rates - individuals
Up to basic rate limit 10% 18%
Above basic rate limit 20% 28%
Tax rate - trusts and estates 20% 28%
Surcharge for residential property and carried interest 8% 0%
Exemptions
Individuals, estates, etc £11,100 £11,100
Trusts generally £5,550 £5,550
Chattels (gain restricted to 5/3rds of proceeds exceeding limit) £6,000 £6,000
Entrepreneurs’ relief
10% on lifetime limit of: £10,000,000 £10,000,000
For trading businesses and companies (minimum 5% employee/officer shareholding) held for at least one year.
Investors' relief
10% on lifetime limit of £10,000,000 for unlisted shares in trading companies newly issued to outsiders (not employees/officers) after 16/3/16 and held for at least three years with disposals after 5/4/19.
2016/17 2015/16
Weekly Annual Weekly Annual
Single person* £119.30 £6,203.60 £115.95 £6,029.40
Spouse/civil partner* £71.50 £3,718.00 £69.50 £3,614.00
Single tier** £155.65 £8,093.80 N/A N/A
* State pension age reached before 6/4/16.
** State pension age reached after 5/4/16.
Pension credit - standard minimum guarantee
Single £155.60 pw £8,091.20 pa
Couple £237.55 pw £12,352.60 pa
2016/17 2015/16
Lifetime allowance £1,000,000 £1,250,000
Annual allowance £40,000* £80,000
Annual allowance charge on excess 20%-45% 20%-45%
* Subject to 50% taper down to £10,000 if threshold income over £110,000 and adjusted income over £150,000.
Maximum pension commencement lump sum 25% of pension benefit value
Lifetime allowance charge if excess drawn as cash: 55% if excess drawn as income: 25%

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