Find all the important tax rates and tables for 2016-17 and 2018 on one page. We have covered all the important rates and tables in detail.
On this page you will find Corporation tax, Dividend Tax, Value Added Tax (VAT), Income tax, National Insurance, Pension, Capital Gains, Stamp Duty rates, tables, allowances and more.
Let's begin with our tax tables for 2016-17 and 2018.
| Company Profits | From 1 April 2017 | From 1 April 2016 | From 1 April 2015 | From 1 April 2014 |
|---|---|---|---|---|
| £300,000 or less | 19% | 20% | 20% | 20% |
| £300,000 or less | 19% | 20% | 20% | 21% |
| Tax Band | 2017-18 | 2016-17 |
|---|---|---|
| Basic | 10% | 10% |
| Higher | 20% | 20% |
| Residential Property - Basic | 18% | 18% |
| Residential Property - Higher | 28% | 28% |
| Annual Exemption | £11,300 | £11,100 |
| 2017-18 rate | Registration threshold | De-registration threshold | Turnover threshold limit |
|---|---|---|---|
| 20% | £85,000 | £83,000 | £150,000 |
Tax code for the current fiscal year i.e. 2017-18 is 1150L. This means personal allowance for the 2017-18 tax year is £11,500. Previous year i.e. 2016-17 tax code was 1100L and the personal allowance was £11,000. Below tax rates will apply to you if your income crosses £11,500 in the 2017-18 tax year.
| Tax Band | 2017-18 Income | 2016-17 Income | Tax Rate |
|---|---|---|---|
| Basic | £0 - £33,500 | £0 - £32,000 | 20% |
| Higher | £33,501 - £150,000 | £32,001 - £150,000 | 40% |
| Additional | £150,000 and more | £150,000 and more | 45% |
National insurance may be confusing for some. Hence, we have prepared a guide on how is national insurance calculated in the UK to explain how calculation works for the employed as well as the self employed.
| How much you earn | Class 1 rate |
|---|---|
| Less than £8,164 | 0% |
| £8,164 - £45,000 | 12% |
| £45,000 and more | 2% |
| How much you earn | Class 2 and 4 rates |
|---|---|
| Less than £6,025 | 0% |
| £6,025 - £8,164 | 2.85 per week |
| £8,164 - £45,000 | 9% + 2.85 per week |
| £45,000 and more | 2% + £2.85 per week |
| Property Value | Stamp Duty rates |
|---|---|
| £1 – £125,000 | Nil |
| £125,001 – £250,0004 | 2% |
| £250,001 – £925,000 | 5% |
| £925,001 – £1.5m | 10% |
| £1.5m and more | 12% |
| Category | 2017-18 | 2016-17 |
|---|---|---|
| Lifetime Allowance | £1m | £1m |
| Annual Allowance | £40,000 | £40,000 |
| Tapered Annual Allowance threshold | £150,000 (incl. pension contribitions) | £150,000 (incl. pension contribitions) |
| Money Purchase Annual Allowance | £4,000 | £10,000 |
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