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Personal Tax

Income tax2018/192018/192017/182016/17
Personal Allowance12,50011,85011,500 11,000
Transferable marriage allowance1,2501,1851,1501,100
Savings rate band5,0005,0005,000 5,000
Savings rate (from 6 April 2016 0% PSA*)0%0%0%0%
Basic rate band (20%)
37,50034,50033,500 32,000
Start to lose child benefit (from 7/1/13)50,00050,00050,000 50,000
Lose all child benefit above60,00060,00060,000 60,000
Lose personal allowance at100,000100,000100,000 100,000
Additional rate on earnings over (45%)150,000150,000150,000 150,000
Rent a room limit7,5007,500 7,500 7,500
Trading allowance1,0001,0001,000
Property allowance1,0001,0001,000

Salary and Dividends

Employers NI threshold719702680671
Optimum annual salary [A]8,6288,4248,160 8,052
Personal allowance + basic rate50,00046,35045,000 43,000
Remaining after deducting [A]41,37237,92636,840 34,948
Net dividends (within basic rate)41,37237,92636,84034,948
Dividend Tax Allowance200020005,0005,000
Dividend tax rate basic rate taxpayers7.5%7.5%7.5%7.5%
Dividend tax rate higher rate taxpayers32.5%32.5%32.5%32.5%
Dividend tax rate additional rate taxpayers38.1%38.1%38.1%38.1%
National Insurance2018/192018/192017/182016/17
Employees NI rate12%12%12%12%
Employers NI rate13.8%13.8%13.8%13.8%
Lower earnings limit6,1366,0325,876 5,824
Upper earnings limit50,00046,38445,000 43,000
Primary threshold8,6328,4248,164 8,060
Secondary threshold8,6328,4248,164 8,112
Self employed NI rate9%9%9%9%
Self employed NI lower limit8,6328,4248,164 8,060
Self employed NI upper limit (2% NI above this)50,00046,35045,000 43,000
Small earnings exemption6,3656,2056,025 5,965
Class 2 (per week)3.002.952.852.80
Student loan threshold (pre-2012) Plan 118,93518,33017,77517,495
Student loan threshold (post-2012, England and Wales only) Plan 225,72525,00021,00021,000
Student loan rate (pre-2012)9%9%9%9%
Employment Allowance (deduction from Employers NI)3,0003,0003,000 3,000

Capital Gains Tax

Capital Gains Tax2018/192018/192017/182016/17
Capital gains tax annual exemption12,00011,70011,30011,100
Capital gains tax rates (Residential property)18%/28%18%/28%18%/28%18%/28%
Capital gains tax rates (Other)10%/20%10%/20%10%/20%10%/20%

VAT

VAT thresholds:2019/202018/192017/182016/17
Registration85,00085,00085,00083,000
Deregistration83,00083,00083,00081,000
Flat rate scheme: Joining (excluding VAT) 150,000 150,000 150,000 150,000
Flat rate scheme: Leaving (including VAT) 230,000 230,000 230,000 230,000
Cash accounting: Joining 1,350,000 1,350,000 1,350,000 1,350,000
Cash accounting: Leaving 1,600,000 1,600,000 1,600,000 1,600,000
VAT rate: 20%20%20%20%

Company Tax

Corporation tax rates2018/192018/192017/182016/17
Main rate (17% from 1/4/20)19%19%19%20%
Capital Allowances2018/192018/192017/182016/17
AIA limit (£200,000 from 1 January 2016)200,000200,000200,000 200,000
Standard main pool rate18%18%18%18%
Special rate (integral features and long term)8%8%8%8%
Small pool write off1,0001,0001,0001,000