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UK tax year date : 6th April 2015 - 5th April 2016 |
Income Tax Rates | 2015 - 16 |
Starting rate for savings £0 - £5,000 | 0% |
Basic tax rate £0 - £31,785 | 20% |
Higher tax rate Over £31,785 | 40% |
Additional rate Over £150,000 | 45% |
Lower rate on dividend Income | 10% |
Higher rate on dividend income |
32.50% |
Additional rate on dividend income | 37.50% |
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Income Tax Allowances  | 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 |
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Reduced tax allowances by £1 for every £2 income over | £100,000 |
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National Insurance  | 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 |
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Corporation Tax  |
2015 - 16 |
0 - 300,000 | 20% |
300,001 - 1.5m | 20% |
Over 1.5m | 20% |
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Capital Gains Tax  | 2015 - 16 |
Individuals | 18% and 28% |
Trust | 28% |
Qualifying Entrepreneurs' Relief | 10% |
Annual Exemption/ relief | |
Individuals | £11,100 |
Trust | £5,550 |
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Inheritance Tax | 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% |
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