Care Accountancy Services
Care Accountancy Services

Tax Rates

2018/2019 Tax Rates
    2018/19 2017/18
Income Tax
       
Personal Allowances (Tax Free Amounts)   £11,850 £11,500
       
Tax on Taxable Income
       
(In Excess of Tax Free Amounts)      
  Up to £34,500 20%  
  Up to £33,500   20%
  £34,501 to £150,000 40%  
  £33,501 to £150,000   40%
  Over £150,000 45% 45%
       
       
National Insurance       
Class 1 Contributions (Employee Contributions)
       
Lower earnings limit £6,205 (£119 pw) 0% 0%
Primary threshold £8,424 (£162 pw) 12% 12%
Upper earnings limit £46,384 (£892 pw) 2% 2%
       
       
Employers Contributions £0 to £8,424 0% 0%
  Over £8,424 (£162 pw) 13.8% 13.8%
       
       
Class 2 Contributions (Self Employed)
       
Weekly flat rate   £2.95 £2.80
Weekly flat rate if earnings over £6,205 per year      
       
Class 4 Contributions (Self Employed)
       
On annual profits between £8,424 & £46,350   9% 9%
On annual profits in excess of £46,350   2% 2%

 

Capital Gains Tax

       
Rate for indivduals up to basic rate tax band   18% 18%
For chargeable gains in excess of:-   £11,700 £11,700
       
Inheritance Tax
       
Nil rate tax band   £325,000 £325,000
Rate of tax on the excess value of the estate   40% 40%
       
Corporation Tax (Effective Rates on Companies)
       
Tax rate per financial year   19% 19%
       
Value Added Tax
       
Registration level (based on 12 months turnover)   £85,000 £83,000
Standard rate   20% 20%

Address details

69 Ingleside Drive

Stevenage

Herts

SG1 4RY

Contact details

If you would like to arrange a free, no obligation meeting at your home or office please contact us:

 

Telephone: 01438 741274

Mobile: 07789 431799

Email: tony@careaccounts.co.uk

 

 

Business links

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