Tax Data

Main Income Tax Reliefs

2019/20

2018/19

2017/18

Personal Allowance Basic

£12,500

£12,000

£11,600

Personal Allowance (born 6/4/38 to 5/4/48)

n/a

£10,600

£10,500

Personal Allowance (born before 6/4/38)

n/a

£10,660

£10,660

Married Allowance (restrictions apply)

£ 1,250

£ 1,250

 

Rent a room relief

£ 7,500

£ 7,500

£ 7,500

Blind Persons Allowance

£2,500

£2,450

£,320

Dividend Allowance

£ 2,000

£ 2,000

£ 5,000

Inheritance Tax Threshold

£325,000

£325,000

£325,000

Capital Gains Tax Exemption: Individuals etc.

£12,300

£12,000

£11,300

Capital Gains Tax Exemption: Trustees

£ 5,650

£ 6,000

£5,650

 

Income Tax Rates

2019/20

2018/19

2017/18

0% (2015/16)  on Savings up to (Basic rate taxpayers)

£1,000

£1,000

£ 1,000

20% on first

£33,500

£32,000

£37,500

40% on Income over

£33,500

£32,000

£37,500

45% on Income over

£150,000

£150,000

£150,000

Dividends for basic rate taxpayers

7.5%

7.5%

7.5%

Dividends for higher rate taxpayers

32.5%

32.5%

32.5%

Dividends for Additional rate taxpayers 38.1% 38.1% 38.1%

 

Corporation Tax Rates

Year to 31/3/2021

Year to 31/3/2020

Year to 31/3/2019

Small Companies Rate

19%

19%

190%

Small Companies Rate band

no longer applicable

no longer applicable

no longer applicable

Marginal Relief

no longer applicable

no longer applicable

300,00 – £1.5 million

Main Companies Rate

19%

19%

21%

Main Companies Rate on

no longer applicable

no longer applicable

no longer applicable

Marginal Relief

no longer applicable

no longer applicable

no longer applicable

Effective marginal rate

19%

19%

19%

 

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