Tax rates and allowances
With changes in the tax system now an ever-present feature, our up-to-date experience is available to ensure clients'' tax liabilities are planned to be at a minimum.
The main changes announced for 2019/20 are:
- personal allowance increases to £12,500
- basic-rate band is £37,500
- higher-rate threshold increases to £50,000
- car fuel benefit multiplier increases to £24,100
- van benefit is £3,430
- van fuel benefit is £655
- capital gains tax annual allowance increases to £12,000
- residence nil-rate band is £150,000
- national living wage increases from £7.83 per hour to £8.21
- junior ISA allowance and child trust fund limits increase to £4,368
- lifetime pension allowance increases from £1.03 million to £1.055 million
- VAT-registration threshold remains at £85,000 until April 2022
- annual investment allowance is temporarily increased to £1 million for two years from 1 January 2019 to 31 December 2020.
As a consequence of devolution, several rates may differ between the four countries that make up the UK. Where applicable these rates are shown in each section of these tax rates and allowances.
- Business
- Personal
- Tax
- Budget 2019
- Tax rates and allowances
- Key dates and deadlines
- Income tax
- Corporation tax
- Inheritance tax
- Capital gains tax
- Value added tax
- National insurance contributions
- Residential property letting
- Main capital allowances
- Patent box
- Business deductions
- Penalties for late returns
- Trusts and settlements
- Non domiciled individuals
- Green travel allowances
- Mileage allowances
- Vehicle benefits
- Vehicle duties
- Pension premiums
- EIS SEIS and VCT
- ISAs
- Stamp and property taxes
- Air passenger duty rates
- Landfill tax
- Charitable giving
- Annual tax on enveloped dwellings
- Diverted profits tax
- Tax credits
- State pension
- VAT
- PAYE and NI
- IR35
- Tax and business calendar
- Budgets and Statements archive
- Calculators