Corporation Tax

Corporation tax rates and bands are as follows:   Financial Year to 31 March 2012 31 March 2011 Taxable profits First £300,000 20% 21% Next £1,200,000 27.5% 29.75% Over £1,500,000 …

Capital Gains

Capital gains tax rates and bands for 2011/12   On chargeable gains Total taxable gains and income: up to £35,000 from £35,001 18% 28% Annual exemption – individual £10,600 – …

Value Added Tax

From 4 Jan 2011 1 Jan 2010 Standard rate 20% 17.5% VAT fraction 1/6 7/47 Reduced rate 5% 5% Taxable Turnover Limits Registration – last 12 months or next 30 …

Inheritance Tax

  2011/12 2010/11 Standard threshold £325,000 £325,000 Combined threshold maximum for married couples and civil partners £650,000 £650,000 Rate of tax on balance: Chargeable lifetime transfers Transfers on, or within …

Vehicle Benefits

Chargeable on employees earning £8,500 or over (including benefits), and directors. Car Benefit Car Fuel Benefits Company Vans   Car Benefit The taxable benefit is calculated as a percentage of the …

Income Tax

  Income tax rates 2011/12 2010/11 Basic rate band – income up to £35,000 £37,400   Starting rate for savings *10% *10%   Basic rate 20% 20%   Dividend ordinary rate 10% 10% …