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no longer applicable

no longer applicable

no longer applicable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no longer applicable

no longer applicable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no longer applicable

no longer applicable

no longer applicable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no longer applicable

no longer applicable

no longer applicable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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For information of users:
This material is published for the information of clients. It provides only an overview of the regulations in force at the date of publication, and no action should be taken without consulting the detailed legislation or seeking professional advice. Therefore no responsibility for loss occasioned by any person acting or refraining from action as a result of the material can be accepted by the authors or the firm.