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UK Tax Rates 2015-16

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Tax Year

Income Tax

National Ins.

Corporation

Capital Gains

Inheritance

Income tax6-7 National Insurance6-7 Corporation Tax6-7 Capital gains6-7 Inheritants6-7

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UK tax year date : 6th April 2015 - 5th April 2016



Income Tax Rates top of page 2015 - 16
Starting rate for savings 10%   0 - 5,000
Basic  tax rate  20%   0 - 31,785
Higher tax rate 40%   Over 31,785
Additional rate 45% Over 150,000

Lower rate on dividend Income

10%
Higher rate on dividend income 32.50%
Additional rate on dividend income 37.50%
   
Income Tax Allowances top of page 2015 - 16
Personal allowance for people born after 5 April 1948 10,600
Personal allowance for people born 6 April 1938 - 5 April 1948 10,600
Personal allowance for people before 6 April 1938 10,660
Income limit for age-related allowances 27,700
Married couple's allowance born before 6 April 1935 8,355
Minimum amount of married couple's allowance 3,220
Blind person's allowance 2,290
   
Reduced tax allowances by 1 for every 2 income over 100,000
   
National Insurance  top of page 2015 - 16
LEL  per week 112
UEL per week 815
Primary Threshold per week 155
Secondary Threshold per week 156
Employee - between PT - UEL (A) 12%
Employee - Over UEL 2%
Employers class 1 over ST 13.8%
Employment Allowance 2,000
Corporation Tax   top of page 2015 - 16
0 - 300,000 20%
300,001 - 1.5m MRF 1/400 or 21.25%
Over 1.5m 21%
Capital Gains Tax  top of page 2015 - 16
Individuals 18% and 28%
Trust 28%
Qualifying Entrepreneurs' Relief 10%

Annual Exemption/ relief

Individuals 11,100
Trust  5,550
Inheritance Tax top of page 2015 - 16
Nil band 325,000
Lifetime transfers 20%
Transfer within 7 years of death 40%
If more than 10% of net estate left to charity 36%

UK tax rates, get much more information from the official authority site    Tax Authorities

 

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