Key Tax Information

Arque Consulting- Key Tax Information Table

Income Tax Rates, Bands and Allowances
2016/17 2015/16 2014/15
Allowances
Personal Allowance 11,000.00 10,600.00 10,000.00
Blind Person's Allowance 2,290.00 2,290.00 2,230.00
Dividend Tax Allowance 5,000.00 N/A N/A
Personal Savings Allowance (basic rate tax payer) 1,000.00 N/A N/A
Personal Savings Allowance (higher rate tax payer) 500.00 N/A N/A
Annual Investment Allowance April 2014 - December 2015 N/A 500,000.00 500,000.00
Annual Investment Allowance January 2016 onwards 200,000.00 200,000.00 N/A
 
Rates and Bands
Basic Rate Band 32,000.00 31,785.00 31,865.00
Basic Rate on General and Savings Income 20.00% 20.00% 20.00%
Basic Rate on Dividend Income 7.50% 10.00% 10.00%
Higher Rate Band 32,001.00- 150,000.00 31,786.00- 150,000.00 31,866.00- 150,000.00
Higher Rate on General and Savings Income 40.00% 40.00% 40.00%
Higher Rate on Dividend Income 32.50% 32.50% 32.50%
Additional Rate Band over 150,000.00 over 150,000.00 over 150,000.00
Additional Rate on General and Savings Income 45.00% 45.00% 45.00%
Additional Rate on Dividend Income 38.10% 37.50% 37.50%
 
Car and Van Benefit
Car Benefit calculated on rate multiplied by initial list price of car 2016/17 2015/16 2014/15
Car- Petrol
0-50 g/km 7.00% 5.00% -00
51-75 g/km 11.00% 9.00% 5.00%
76-94 g/km 15.00% 13.00% 11.00%
Above 94 g/km Add 1.00% for every 5 g/km Add 1.00% for every 5 g/km Add 1.00% for every 5 g/km
Above 200 g/km Maximum 37.00% Maximum 37.00% Maximun 35.00%
Car- Diesel
0-50 g/km 10.00% 8.00% -00
51-75 g/km 14.00% 12.00% 8.00%
76-94 g/km 18.00% 16.00 13.00%
Above 94 g/km Add 1.00% for every 5 g/km Add 1.00% for every 5 g/km Add 1.00% for every 5 g/km
Above 185 g/km Maximum 37.00% Maximum 37.00% Maximun 35.00%
Van 3,170.00 3,150.00 3,090.00
 
National Insurance Contributions
2016/17 2015/16 2014/15
Class 1- Employee 12.00% 12.00% 12.00%
Class 1a- Employer 13.80% 13.80% 13.80%
Class 1- Employer 13.80% 13.80% 13.80%
Employee- No National insurance on first £155.00 pw £155.00 pw £153.00
Employer- No National insurance on first £156.00 pw £156.00 pw £153.00
Employee- (Under 21 and Apprentices under 25)  No National insurance on first £827.00 pw £815.00 pw N/A
Employee- Main rain charged up to £827.00 pw £815.00 pw £805.00 pw
Employee- Extra 2.00% charged after £827.00 pw £815.00 pw £805.00 pw
Employer NIC Allowance for year 3,000.00 2,000.00 2,000.00
Class 2- Self employed flat rate per week 2.80 2.80 2.75
Class 2- Small profits threshold 5,965.00 5,965.00 5,885.00
Class 3 (Voluntary) flat rate per week 14.10 14.10 13.90
Class 4- Self employed profits £7,956.00 - £41,865.00 N/A N/A 9.00%
Class 4- Self employed profits £8,061.00 - £43,000.00 9.00% 9.00% N/A
Class 4- Self employed profits over £41,865.00 N/A N/A 2.00%
Class 4- Self employed profits over £42,385.00 N/A 2.00% N/A
Class 4- Self employed profits over £43,000.00 2.00% N/A N/A
 
Corporation Tax
2016/17 2015/16 2014/15
Small rate up to £300,000.00 20.00% 20.00% 20.00%
Marginal rate £300,001.00 - £1,500,000.00 20.00% 20.00% 21.25%
Main rate over £1,500,001.00 20.00% 20.00% 21.00%
Marginal relief fraction N/A N/A 1/400th
R&D Uplift SME 230.00% 230.00% 225.00%
R&D Repayable credits SME 14.50% 14.50% 14.50%
 
Value Added Tax
2016/17 2015/16 2014/15
Standard Rate 20.00% 20.00% 20.00%
Reduced Rate 5.00% 5.00% 5.00%
Zero Rate -00 -00 -00
Registration Threshold 83,000.00 82,000.00 81,000.00
Deregistration Threshold 81,000.00 80,000.00 79,000.00
Cash Accounting Scheme Registration Threshold 1,350,000.00 1,350,000.00 1,350,000.00
Cash Accounting Scheme Deregistration Threshold 1,600,000.00 1,600,000.00 1,600,000.00
Flat Rate Scheme Registration Threshold 150,000.00 150,000.00 150,000.00
Flat Rate Scheme Deregistration Threshold 230,000.00 230,000.00 230,000.00
Annual Accounting Scheme Registration Threshold 1,350,000.00 1,350,000.00 1,350,000.00
Annual Accounting Scheme Deregistration Threshold 1,600,000.00 1,600,000.00 1,600,000.00
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