Tax tables

Our tax tables feature rates and allowances for the 2019/20 tax year. 

If you have any questions about current tax rates and your own affairs, please contact a member of our team. 

  Annual Weekly
Single tier pension – where
state pension age reached after 5/4/16 
£8,767.20 £168.60
Basic pension – Single person* £6,718.40 £129.20
Basic pension – Spouse/civil partner* £4,027.40 £77.45
 


*
State pension age reached before 6/4/16

Tax Rates – Individuals 19/20 18/19
Below UK higher rate income tax band 10% 10%
Within UK higher and additional rate income tax band 20% 20%
Tax rate – Trusts and estates 20% 20%
Surcharge for residential property and carried interest 8% 8%
Exemptions    
Annual exempt amount: Individuals, estates, etc £12,000 £11,700
Trusts generally £6,000 £5,850
Chattels: gain limited to 5/3rds of proceeds exceeding £6,000 £6,000
Entrepreneurs’ Relief 10% on lifetime limit of £10,000,000 £10,000,000
For trading businesses and companies
(minimum 5% participation) held for at least
2 years 1 year

Taxable amount based on car’s list price when new.

Charge varies according to CO2 emissions in g/km.

For diesels that do not meet the RDE2 standards, add 4% to petrol figures below up to a maximum 37%.

CO2 g/km 0-50 51-75 76-94 95 and above
Charge 16% 19% 22% 23%* – 37%
 

*Plus 1% for each extra 5g/km over 95g/km up to maximum 37%

Fuel benefit — taxable amount for private use 19/20 18/19
CO2 percentage charge used for car benefit multiplied by: £24,100 £23,400

 

From 1/3/16
Pence per mile
Engine size Petrol LPG
1,400cc or less 10p 7p
1,401cc to 2,000cc 12p 8p
Over 2,000cc 19p 13p
     
From 1/3/16 Pence per mile
Engine size Diesel
1,600cc or less 8p
1,601cc to 2,000cc 10p
Over 2,000cc 11p
   
 

Hybrid cars are treated as either petrol or diesel cars for this purpose.

 

  Profits Diverted Profits
Year to 31/3/20 19% 25%
Year to 31/3/19 19% 25%
 

 

Corporation tax at 32.5% on outstanding loans to participators.

Vans (for private use)

  19/20 18/19
Zero emission: chargeable amount £2,058 £1,340
Other vans: chargeable amount £3,430 £3,350
Fuel: flat charge £655 £633

UK excluding Scottish taxpayers’ non-dividend, non-savings income 19/20 18/19
20% basic rate on income up to £37,500 £34,500
40% higher rate on income over £37,500 £34,500
45% additional rate on income over £150,000 £150,000

 

All UK taxpayers

   
Starting rate at 0% on savings income up to* £5,000 £5,000
Savings allowance at 0% tax: Basic rate
Higher rate
Additional rate
£1,000
£500
£0
£1,000
£500
£0
Dividend allowance at 0% tax – all individuals £2,000 £2,000
Tax rate on dividends: Basic rate
Higher rate
Additional rate 
7.5%
32.5%
38.1%
7.5%
32.5%
38.1%
Trusts: Standard rate band generally £1,000 £1,000
Rate applicable to trusts: Dividends 38.1% 38.1%
  Other income 45% 45%

*Not available if taxable non-savings income exceeds the starting rate band.

 

Scottish taxpayers – non-dividend, non-savings income 19/20 18/19
19% starter rate on income up to £2,049 £2,000
20% basic rate on next slice of income up to £12,444 £12,150
21% intermediate rate on next slice up to £30,930 £31,580
41% higher rate on next slice up to £150,000 £150,000
46% top rate on income over £150,000 £150,000

 

High Income Child Benefit Charge: 1% of benefit per £100 of adjusted net income between £50,000 and £60,000

 

Inheritance Tax
  19/20 18/19
Nil-rate band* £325,000 £325,000
Residence nil-rate band*† £150,000 £125,000
Rate of tax on excess 40% 40%
Rate if at least 10% of net estate left to charity 36% 36%
Lifetime transfers to and from certain trusts 20% 20%
Overseas domiciled spouse/civil partner exemption £325,000 £325,000
100% relief: businesses, unlisted/AIM companies, certain farmland/farm buildings
50% relief: certain other business assets, e.g. farmland let before 1/9/95
Annual exempt gifts £3,000 per donor £250 per donee
* Up to 100% of the unused proportion of a deceased spouse’s/civil partner €™s nil-rate band and/or residence nil-rate band can be claimed on the survivor €™s death
€ Estates over £2,000,000 subject to 50% taper on excess

 

Tapered tax charge on lifetime gifts within 7 years of death
Years before death 0–3 3–4 4–5 5–6 6–7
% of death tax charge 100 80 60 40 20
Plant & machinery 100% annual investment allowance (1st year) 1/1/19 to 31/12/20 £1,000,000
Enterprise zone plant & machinery (max €125m per project) 100%
Plant & machinery (annual reducing balance) 18%
Patent rights & know-how (annual reducing balance) 25%
Certain long-life assets and integral features of buildings (annual reducing balance) 6%
Structures and buildings from 29/10/18 (straight line) 2%
Energy and water-efficient equipment and electric vans 100%
Electric charge points 100%
Motor Cars
CO2 emission of g/km: 50 or less* 51–110 111 or more
Capital allowance 100% first year 18% pa 6% pa
*New cars only  † Annual reducing balance
Research and Development
Capital expenditure 100%
Revenue expenditure relief small/medium-sized companies 230%
Research and development expenditure credit large companies 12%

 

Income Tax, NIC and Capital Gains Tax – Self-assessment
31 Jan in tax year
Following 31 July

Following 31 Jan

}
  • Normally 50% of previous year’s income tax (less tax deducted at source) and class 4 NIC
  • Balance of income tax and class 4 NIC, and all CGT and class 2 NIC
Inheritance Tax
On death Normally 6 months after month of death
Lifetime transfer 6 April – 30 September 30 April in following year
Lifetime transfer 1 October – 5 April 6 months after month of transfer

 

Corporation Tax

Self-Assessment: 9 months and 1 day after end of accounting period
  • Payable by instalments where profits are £1.5m or over. Normally payable in 7th, 10th, 13 and 16th months after start of accounting period.
  • Growing companies: no instalments where profits are £10m or less and the company was not a large company for the previous year.

Main personal allowances and reliefs 19/20 18/19
Personal allowance* £12,500 £11,850
Married partners’ / Civil partners’ transferable allowance £1,250 £1,190
Married couples’ / Civil partners’ allowance at 10%†
(if at least one born before 6/4/35)
– maximum
– minimum
£8,915 £8,695
£3,450 £3,360
Blind person’s allowance £2,450 £2,390
Rent-a-room relief £7,500 £7,500
Property allowance £1,000 £1,000
Trading allowance £1,000 £1,000
     

* Personal allowance reduced by £1 for every £2 of adjusted net income over £100,000


Married couple’s allowance reduced by £1 for every £2 of adjusted net income over £29,600 (£28,900 for 2018/19), until minimum reached

Non-domicile remittance basis charge after UK residence in at least: 19/20 18/19
7 of the last 9 tax years
12 of the last 14 tax years
£30,000
£60,000
£30,000
£60,000

 

Class 1 employee Employee Employer
NICs rate     12% 13.8%
No NICs for employees generally on the first:     £166 pw £166 pw
No NICs for younger employees* on the first:     £166 pw £962 pw
NICs rate charged up to     £962 pw No limit
2% NICs on earnings over     £962 pw N/A
Certain married women     5.85% 13.8%

* Employees generally under 21 years and apprentices under 25 years

Employment Allowance
Per business. Not available if the sole employee a director     £3,000 £3,000
 
Limits and thresholds  
Weekly Monthly Annual
Lower earnings limit £118 £512 £6,136
Primary threshold £166 £719 £8,632
Secondary threshold £166 £719 £8,632
Upper earnings limit (and upper secondary thresholds*) £962 £4,167 £50,000

* Employees generally under 21 years and apprentices under 25 years

 

Class 1A Employer  
On car and fuel benefits and most other taxable benefits provided to employees and directors 13.8%
Self-employed  
Class 2
Flat rate £3.00 pw £156.00 pa
Small profits threshold: no compulsory NICs if profits do not exceed £6,365 pa
Class 4
On profits

£8,632 
£50,000 pa: 9% 
Over £50,000 pa: 2%

Voluntary
Class 3 Flat rate £15.00 pw £780.00 pa
     

Stamp Duty and SDRT: stocks and marketable securities 0.5%
Second residential and all corporate residential properties £40,000 or more – add 3% to SDLT/LTT rate(s) and 4% on LBTT rate(s)

 

England & N Ireland – Stamp Duty Land Tax (SDLT) on slices of value
Residential property % Commercial property %
Up to £125,000 0 Up to £150,000 0
£125,001 – £250,000 2 £150,001 – £250,000 2
£250,001 – £925,000 5 Over £250,001 5
£925,001 – £1,500,000 10    
Over £1,500,000 12    
First-time buyers: 0% on first £300,000 for properties up to £500,000
Residential properties bought by companies etc over £500,000 15% of total consideration

 

Scotland – Land and Buildings Transaction Tax (LBTT) on slices of value
Residential property % Commercial property %
Up to £145,000 0 Up to £150,000 0
£145,001 – £250,000 2 £150,001 – £250,000 1
£250,001 – £325,000 5 Over £250,000 5
£325,001 – £750,000 10    
Over £750,000 12    
First-time buyers: 0% on first £175,000

 

Wales – Land Transaction Tax (LTT) on slices of value
Residential property % Commercial property %
Up to £180,000 0 Up to £150,000 0
£180,001 – £250,000 3.5 £150,001 – £250,000 1
£250,001 – £400,000 5 £250,001 – £1,000,000 5
£400,001 – £750,000 7.5 Over £1,000,000 6
£750,001 – £1,500,000 10    
Over £1,500,000 12    

  19/20 18/19
Lifetime allowance £1,055,000 £1,030,000
Money purchase annual allowance £4,000 £4,000
Annual allowance* £40,000 £40,000
Annual allowance charge on excess Applicable tax rate(s) on earnings
Lifetime allowance charge if excess is drawn As cash 55%; as income 25%
Max. pension commencement lump sum 25% of pension benefit value
* Reduced by £1 for every £2 of adjusted income over £150,000 to a minimum of £10,000, subject to threshold income being over £110,000
 

2019/20 social security rates not yet published. These are the rates at
29/10/18.

Weekly rates and taxable unless stated otherwise. Benefits marked *below
are affected by the phasing in of Universal Credit.

Attendance Allowance 
Higher rate £85.60 Lower rate £57.30
Carer’s Allowance £64.60
Employment and Support Allowance*
13-week assessment phase    
Aged under 25: up to £57.90 Aged 25 or over: up to £73.10
From week 14 after Work Capability Assessment if eligible
In Work Related Activity Group up to £102.15
In Support Group up to £110.75
   
Statutory Pay Rates 
Average weekly pay £116 or over  
Statutory Sick Pay (SSP) standard rate £92.05
Statutory Maternity Pay (SMP)/Statutory Adoption Pay (SAP)
First 6 weeks – 90% of average weekly pay
Next 33 weeks – 90% of average weekly pay up to £145.18
Statutory Paternity Pay (SPP) 90% of average weekly pay subject to a maximum of £145.18
Shared Parental Pay (ShPP)up to 37 weeks   90% of average weekly pay subject to a maximum of £145.18
Jobseeker’s Allowance Aged under 25 £57.90
  Aged 25 or over £73.10
     
National Minimum and National Living Wage (per hour) 1/4/18 – 31/3/19
Aged 25 and over (NLW) £8.21
Age 21 – 24 (NMW) £7.70
Aged 18-20 (NMW) £6.15
Aged under 18 (NMW) £4.35
Apprentice (NMW) £3.90
Rates per mile    
Cars and vans first 10,000 miles 45p per mile thereafter 25p per mile
Qualifying passenger 5p per mile  
Bicycles 20p per mile  
Motorcycles 24p per mile  

 

  19/20 18/19
Individual Savings Account (ISA) £20,000 £20,000
Lifetime ISA £4,000 £4,000
Help to Buy ISA
(existing savers only from 1/12/19
£1,000 initial and £200 per month
Junior ISA and Child Trust Fund £4,368 £4,260
     
Venture Capital Trust (VCT) at 30% £200,000 £200,000
     
Enterprise Investment Scheme (EIS) at 30%* £2,000,000 £2,000,000
EIS eligible for CGT re-investment deferral relief No limit No limit
     
Seed Enterprise Investment Scheme (SEIS) at 50% £100,000 £100,000
SEIS CGT reinvestment relief 50% 50%

 

*Above £1,000,000 must be in knowledge-intensive companies.

Vans for Private Use
  19/20 18/19 
Zero emission: chargeable amount £2,058 £1,340
Other vans: chargeable amount £3,430 £3,350
Fuel – chargeable amount £655 £633
Standard rate 20%
Reduced rate eg on domestic fuel 5%
Registration level since 1/4/17 £85,000
Deregistration level since 1/4/17 £83,000
Flat rate scheme turnover limit £150,000
Cash and annual accounting schemes turnover limits £1,350,000

Produced for information only. Subject to relevant legislation. Always seek professional advice before acting.