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Tax rates and allowances

With changes in the tax system now an ever-present feature, our up-to-date experience is available to ensure clients'' tax liabilities are planned to be at a minimum.

2012/13

Most of the rates for the next tax year have now been announced, and this area of our site has been updated to show these changes.

Key changes this tax year include:

  • An increase in the personal allowance for those under 65 to £8,105
  • A reduction in the main rate of corporation tax to 24%
  • ISA investment allowance limit of £11,280
  • New higher rates of stamp duty land tax of 7% and 15%
  • VAT registration threshold now £77,000

Key dates and deadlines

This is a summary of the key filing and payment dates. more >

Income tax

Tax rates and allowances. more >

Corporation tax

Details of corporation tax rates and bands. more >

Inheritance tax

Inheritance tax rates and allowances. more >

Capital gains tax

Capital gains tax rates and allowances. more >

VAT rates

VAT rates more >

National insurance contributions

National insurance contributions and rates more >

Residential property letting

Residential property letting tax rates and allowances. more >

Main capital allowances

Reduce your business tax liability with your capital expenditure. more >

Business deductions

In order to attract a deduction in computing the profits of a trade or business any expenses must be incurred wholly and exclusively for the purpose of the trade. Capital expenditure is not an allowable expense (capital allowances are claimed on these costs), and certain other expenses are barred by statute. more >

Penalties for late returns

Make sure you do not become liable to any of these fines or penalties. more >

Trusts and settlements

Trusts and settlements - tax rates and allowances. more >

Non domiciled individuals

The basics of the non domicile charge. more >

Qualification for a small or medium sized company

Qualification to be a small or medium sized company applies if two or more of the following criteria are met in the current and preceding year. more >

'Green' travel arrangements

There are a number of schemes intended to encourage employers to make arrangements for their staff to travel to work by more environmentally beneficial methods. more >

Mileage allowances

The budget and mileage allowances. more >

Vehicle benefits 2012/13

Vehicle benefits more >

Vehicle benefits 2011/12

Vehicle benefits. Check your benefit for the last tax year. more >

Vehicle duties

Vehicle duties more >

Pension premiums

There is no limit on the amount that may be contributed to a registered pension scheme. The maximum amount on which an individual can claim tax relief in any tax year is the greater of the individual's UK relevant earnings or £3,600. more >

EIS and VCT

Enterprise investment schemes and venture capital trusts. more >

ISAs

Details of investment maximums for ISAs. more >

Stamp taxes

Details of the rates and types of stamp taxes. more >

Air passenger duty rates

Air passenger duty rates. more >

Landfill tax

Rates and allowances - landfill tax more >

Charitable giving

Rates and allowances - charitable giving. more >

Tax credits

Rates and allowances tax credits. more >

State pension

State pension rates and allowances. more >

Selected benefit rates

Tax rates and allowances - selected benefit rates. more >

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