All figures are annual amounts
| Allowances | |
| Personal allowance | £11,500 |
| Tapered on income above | £100,000 |
| Transferable to spouse/ civil partner taxed at 20% |
£1,150 |
| Trading income | £1,000 |
| Property income | £1,000 |
| Rent-a-room | £7,500 |
| Tax on earnings | |
| Earnings to £33,500 | 20% |
| £33,501 to £150,000 | 40% |
| Over £150,000 | 45% |
| Tax on earnings for Scottish residents | |
| Earnings to £31,500 | 20% |
| £31,501 to £150,000 | 40% |
| Over £150,000 | 45% |
| Tax on interest | |
| First £5,000 | 0% |
| 20% taxpayers | £1,000 @ 0% |
| 40% taxpayers | £500 @ 0% |
| Balance taxed at marginal rates | |
| Tax on dividends | |
| First £5,000 | 0% |
| Balance in band to £33,500 | 7.5% |
| £33,501 to £150,000 | 32.5% |
| Over £150,000 | 38.1% |
| National insurance | |
| Class 1 employers | 13.8% over £8,164 |
| Under 21 (apprentices 25) | 0% to £45,000 |
| Class 1 employees | 12% on £8,164 to £45,000; 2% above £45,000 |
| Class 4 self-employed | 9% on £8,164 to £45,000; 2% above £45,000 |
| Class 2 self-employed Not payable if profits under |
£148.20 £6,025 |
| Class 3 voluntary | £741 |
| Employment allowance | |
| Set against employer’s Class 1 NIC (Not available for one-person companies) |
£3,000 |
| Pension contributions | |
| No earnings s | £3,600 gros |
| Otherwise | 100% of earnings |
| Annual contribution caps: No pension taken Some pension taken |
£40,000 £4,000 |
| Adjusted income over £150,000: annual cap tapered to |
£10,000 |
| Lifetime pension fund cap | £1m |
| Corporation tax | |
| All profits | 19% |
| VAT | |
| Registration turnover | £85,000 |
| Deregistration turnover | £83,000 |
| Standard rate | 20% |
| Reduced rate | 5% |
| Inheritance tax | |
| Nil rate band | £325,000 |
| Excess taxed at | 40% |
| Where 10% left to charity | 36% |
| Capital gains tax | |
| Within basic tax rate | 10% |
| Higher tax bands | 20% |
| Surcharge for residential property and carried interest |
8% |
| Entrepreneurs’ relief | 10% |
| Annual exempt amount | £11,300 |
