Tools to help your business. Tax rates & allowances Personal tax rates and allowances are generally set for income tax years running to 5 April. Corporate rates and allowances are set for financial years running to 31 March. Capital allowancesPlant and machinery allowances and the allowances available for other assets.Capital gains taxStandard and higher rates of capital gains tax (CGT) together with the annual exemption. The special rate of CGT and the limit applying for entrepreneurs’ relief purposes.Corporation taxCompanies pay corporation tax on their income and gains. View the current rates and estimate the tax due.Child benefitWeekly amounts of child / working tax credits and child benefit.Income taxEstimate your personal income tax liability using the current rates. View the current rates here.Individual Savings Account (ISA)The annual ISA investment limits.Inheritance taxInheritance tax rates and allowances.Minimum wageStatutory minimum wage levels.National insuranceEarnings thresholds and contribution percentages for Class 1 (employed), Class 2 and 4 (self-employed) and Class 3 (voluntary) national insurance contributions.PensionsDetails of the amounts of tax relievable pension contributions for individuals and employers.Property and trade allowancesBusiness allowances for individuals.Stamp duty & land taxesThe current percentages of stamp duty and the various UK property/land transaction taxes.Statutory payCurrent weekly amounts.Tax reliefs for individualsEIS, SEIS, VCTs and SIR.VehiclesCalculate the taxable benefit using the relevant tables for employer provided cars, vans and related fuel.Value added taxThe current VAT percentages and the annual registration and deregistration thresholds. Can you claim R&D Tax relief? At DMA, we have a track record of helping clients with all R & D tax issues. We can advise you precisely on what does/does not qualify for tax relief under R&D activities and under which R&D scheme. Life’s too short to be searching for stuff… Fortunately, DMA’s App means that you don’t have to. Get ALL your financial and tax information in one place and at all times – plus a great financial news feed! Register With Us Get better and faster communication and a whole range of free tools. Track your mileage, upload bills directly – and get technology that’s as on-the-move as you are. Demystifying Digital Tax We’ll show you how to use Making Tax Digital to your commercial advantage by streamlining your business processes. Making Tax Digital can be an opportunity to save time and money!
