Tax Rates, Bands & Allowances

On this page you will find below details of the most common types of tax rates, bands and allowances for the 2017/18 and 2018/19 tax years. If the particular type of tax you are interested in is not covered by the information given below please contact us and we will try to help you. On certain internet browsers the figures shown in the table may not be aligned to the column headings. If you are experiencing this problem and are having difficulty in reading the table as a result please try again using a different browser.

Please note that since 6 April 2018 separate rates of Income Tax apply in Scotland. These are not shown below. If you would like more information about this please contact us.

 

Income Tax – Allowances

2017/18 2018/19
Personal Allowance £11,500 £11,850
Minimum Married Couples Allowance – people born before 6 April 1935 £3,260 £3,360
Maximum Married Couples Allowance – people born before 6 April 1935 £8,445 £8,695
Income Limit for Personal Allowances £100,000 £100,000
Blind Persons Allowance £2,320 £2,390
Marriage Allowance £1,150 £1,190
Dividend Allowance £5,000 £2,000
Savings Allowance (Basic Rate Taxpayers) £1,000 £1,000
Savings Allowance (Higher Rate Taxpayers) £500 £500

 

 

Income Tax – Rates and Bands

2017/18 2018/19
Basic Rate 20% 20%
Higher Rate 40% 40%
Additional Rate 45% 45%
Upper Limit for Basic Rate £45,000 £46,350
Upper Limit for Higher Rate £150,000 £150,000

 

 

 National Insurance – Employees and Employers

2017/18 2018/19
Weekly Lower Earnings Limit (LEL) £113  £116
 Employers Threshold (ERT)   £157  £162
 Employees Threshold (EET)  £157  £162
 Upper Earnings Limit (UEL)  £866  £892
 Employer Rate – Below ERT  0.0%  0.0%
 Employer Rate – Above ERT  13.8%   13.8%
 Employee Rate – Below EET 0.0%  0.0%
 Employee Rate – EET to UEL 12.0% 12.0%
 Employee Rate – Above UEL  2.0%  2.0%

 

 

National Insurance – Self Employed

2017/18 2018/19
Weekly Class 2 Contribution Rate £2.85 £2.95
Class 2 Small Earnings Exception per year £6,025 £6,205
Class 4 Lower Profits Limit (LPL) £8,164 £8,424
Class 4 Upper Profits Limit (UPL) £45,000 £46,350
Class 4 Rate LPL to UPL 9.0% 9.0%
Class 4 Rate above UPL 2.0% 2.0%

 

Capital Gains and Property

2017/18 2018/19
Capital Gains Annual Allowance £11,300  £11,700
Capital Gains Tax Rate for Basic Rate Taxpayers 18.0% 18.0%
Capital Gains Tax Rate for Higher Rate Taxpayers 28.0% 28.0%
Rent a Room Allowance £7,500 £7,500

 

Business Taxes

2017/18 2018/19
Value Added Tax (VAT) Registration Threshold £83,000 £85,000
Corporation Tax Rate for Small Companies 19% 19%