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Budget Comment March 2016

In spite of the commentators on the day over-dramatising (no surprise there!), it was another quiet one from a tax perspective. Witness the following day headlines almost all highlighting tax on sugary drinks!

I’m never sure whether to categorise the announcements by topic or by the date they are effective. Let’s do the date:

Backdated to 17 March 2015
  • There are changes to Entrepreneurs Relief relaxing certain restrictions on transfers to family and on amount of ownership required.
  • From 6 April 2016
  • Probably the biggest Budget change was the massive reduction in the higher Capital Gains Tax rate from 28% to 20% and the lower rate from 18% to 10%. But not on residential property. This is an unexpected bonus for the few that are affected!
From 6 April 2017
  • There will be a new Lifetime ISA for the under 40s. There will be a maximum annual contribution of £4,000 to which in the right circumstances a 25% bonus will be added. As you’d expect there is small print but many are predicting that this may be the model for pensions in the years to come.
  • Corporation Tax will be down to 19%
From 6 April 2018
  • The Self Employed will no longer pay Class 2 National Insurance. It’s tempting to think this has already happened as the regular Direct Debit collection ceased in July 2015 – the truth is that it is still paid but through Self Assessment.
From 6 April 2020
  • Corporation Tax will be down to 17% (And don’t forget the previously announced (see earlier reports)
  • Dividend Tax
  • Pension Relief restrictions
  • State Pension changes
  • Stamp Duty on second properties
  • Restriction on mortgage relief for rented properties
Auto-Enrolment

Have you heard the one about the Office of Tax Simplification! Try mentioning it to clients wrestling with pension Auto-Enrolment! Now we are into implementation we can see – red tape doesn’t get any tougher than this. Hundreds of thousands of schemes and millions of tiny (meaningless?) pension contributions. Ridiculous!

Digital Tax Account

There’s a revolution on its way! First announced in the April 2015 Budget, the Digital Tax Account will affect us all. Currently the legislators and the accounting profession are negotiating both on content and procedures. So there’s not a great deal of flesh on the bone but we can be sure that change is on its way. By 2020 the landscape is likely to be unrecognisable. For the interested, you can have a look at your early version Digital Tax Account now by going to www.HMRC.gov.uk and following the links to register. Where there was once pen and ink there will soon be Applications, User Names and Passwords (sounds familiar)!

The chart of new Rates and Allowances is, as always, set out below.

Rates and Allowances for 2016 and 2017

The chart of new Rates and Allowances is, as always, set out below. Probably the biggest change is the increase in Tax Free income (the Personal Allowance) from £9,440 to £10,000 in 2014-15. Did you think it was £10,500? Understandable if you did but that is next year’s Allowance (2015-16). The good thing for higher rate taxpayers is that the 40% threshold hasn’t been reduced (as it has been recently) in fact it has increased from £41,450 to £41,865. So a real benefit here for higher rate taxpayers. There’s a summary of Tax Rates below reflecting these changes.

<table width="600" border="1" cellpadding="5" cellspacing="2" bordercolor="#000000"><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td width="390"> </td><!-- [et_pb_line_break_holder] --> <td width="70"><div align="center"><font size="2" face="Arial, Helvetica, sans-serif"><strong>2015-16<br><!-- [et_pb_line_break_holder] --> (£) </strong></font></div></td><!-- [et_pb_line_break_holder] --> <td width="70"><div align="center"><font size="2" face="Arial, Helvetica, sans-serif"><strong>2016-17<br><!-- [et_pb_line_break_holder] --> (£)</strong></font></div></td><!-- [et_pb_line_break_holder] --> <td width="70"><div align="center"><font size="2" face="Arial, Helvetica, sans-serif"><strong>Increase<br><!-- [et_pb_line_break_holder] --> (£)</strong></font></div></td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td><font size="2" face="Arial, Helvetica, sans-serif"><strong>Income <!-- [et_pb_line_break_holder] --> tax allowances</strong></font></td><!-- [et_pb_line_break_holder] --> <td> </td><!-- [et_pb_line_break_holder] --> <td> </td><!-- [et_pb_line_break_holder] --> <td> </td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td><font size="2" face="Arial, Helvetica, sans-serif">Personal <!-- [et_pb_line_break_holder] --> allowance<br><!-- [et_pb_line_break_holder] --> Personal allowance for people aged 65-74<br><!-- [et_pb_line_break_holder] --> Personal allowance for people 75 and over</font></td><!-- [et_pb_line_break_holder] --> <td><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">10,600<br><!-- [et_pb_line_break_holder] --> 10,600<br><!-- [et_pb_line_break_holder] --> 10,660</font></div></td><!-- [et_pb_line_break_holder] --> <td><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">11,000<br><!-- [et_pb_line_break_holder] --> N/A<br><!-- [et_pb_line_break_holder] --> N/A</font></div></td><!-- [et_pb_line_break_holder] --> <td><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">400<br><!-- [et_pb_line_break_holder] --> 0<br><!-- [et_pb_line_break_holder] --> 0</font></div></td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td><font size="2" face="Arial, Helvetica, sans-serif">Income <!-- [et_pb_line_break_holder] --> limit for under 65 personal allowance<br><!-- [et_pb_line_break_holder] -->   <br><!-- [et_pb_line_break_holder] --> Income limit for age-related allowances </font></td><!-- [et_pb_line_break_holder] --> <td><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">100,000<br><!-- [et_pb_line_break_holder] --> <br><!-- [et_pb_line_break_holder] --> 27,000</font></div></td><!-- [et_pb_line_break_holder] --> <td><div align="right"><font size="2" face="Arial, Helvetica, sans-serif"> <!-- [et_pb_line_break_holder] --> 100,000<br><!-- [et_pb_line_break_holder] --> <br><!-- [et_pb_line_break_holder] --> N/A</font></div></td><!-- [et_pb_line_break_holder] --> <td><p align="right"><font size="2" face="Arial, Helvetica, sans-serif">0</font><font size="2" face="Arial, Helvetica, sans-serif"><br><!-- [et_pb_line_break_holder] --> <br><!-- [et_pb_line_break_holder] --> 0</font></td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td><font size="2" face="Arial, Helvetica, sans-serif">Married <!-- [et_pb_line_break_holder] --> couple’s allowance for people born before 6 April <!-- [et_pb_line_break_holder] --> 1935<br><!-- [et_pb_line_break_holder] --> <br><!-- [et_pb_line_break_holder] --> Minimum amount of married couple’s allowance<br><!-- [et_pb_line_break_holder] --> <br><!-- [et_pb_line_break_holder] --> Blind person's allowance</font></td><!-- [et_pb_line_break_holder] --> <td><div align="right"> <font size="2" face="Arial, Helvetica, sans-serif"> <!-- [et_pb_line_break_holder] --> 8,355<br><!-- [et_pb_line_break_holder] --> <br><!-- [et_pb_line_break_holder] --> <br><!-- [et_pb_line_break_holder] --> 3,220<br><!-- [et_pb_line_break_holder] --> <br><!-- [et_pb_line_break_holder] --> 2,290</font></div></td><!-- [et_pb_line_break_holder] --> <td><div align="right"><font size="2" face="Arial, Helvetica, sans-serif"> <!-- [et_pb_line_break_holder] --> 8,355<br><!-- [et_pb_line_break_holder] --> <br><!-- [et_pb_line_break_holder] --> <br><!-- [et_pb_line_break_holder] --> 3,220<br><!-- [et_pb_line_break_holder] --> <br><!-- [et_pb_line_break_holder] --> 2,290</font></div></td><!-- [et_pb_line_break_holder] --> <td><div align="right"><font size="2" face="Arial, Helvetica, sans-serif"> <!-- [et_pb_line_break_holder] --> 0<br><!-- [et_pb_line_break_holder] --> <br><!-- [et_pb_line_break_holder] --> <br><!-- [et_pb_line_break_holder] --> 0<br><!-- [et_pb_line_break_holder] --> <br><!-- [et_pb_line_break_holder] --> 0</font></div></td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td><font size="2" face="Arial, Helvetica, sans-serif"><strong>Capital <!-- [et_pb_line_break_holder] --> gains tax annual exempt amount:</strong><br><!-- [et_pb_line_break_holder] --> Individuals etc<br><!-- [et_pb_line_break_holder] --> Trustees<br><!-- [et_pb_line_break_holder] --> <br><!-- [et_pb_line_break_holder] --> Main rate 20%, Lower Rate 10% </font></td><!-- [et_pb_line_break_holder] --> <td><div align="right"><font size="2" face="Arial, Helvetica, sans-serif"><br><!-- [et_pb_line_break_holder] --> 11,000<br><!-- [et_pb_line_break_holder] --> 5,500<br><!-- [et_pb_line_break_holder] --> <br><!-- [et_pb_line_break_holder] --> <br><!-- [et_pb_line_break_holder] --> </font></div></td><!-- [et_pb_line_break_holder] --> <td><div align="right"><font size="2" face="Arial, Helvetica, sans-serif"><br><!-- [et_pb_line_break_holder] --> 11,100<br><!-- [et_pb_line_break_holder] --> 5,550<br><!-- [et_pb_line_break_holder] --> <br><!-- [et_pb_line_break_holder] --> <br><!-- [et_pb_line_break_holder] --> </font></div></td><!-- [et_pb_line_break_holder] --> <td><div align="right"><font size="2" face="Arial, Helvetica, sans-serif"><br><!-- [et_pb_line_break_holder] --> 0<br><!-- [et_pb_line_break_holder] --> 0<br><!-- [et_pb_line_break_holder] --> <br><!-- [et_pb_line_break_holder] --> <br><!-- [et_pb_line_break_holder] --> </font></div></td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td><font size="2" face="Arial, Helvetica, sans-serif"><strong>Inheritance <!-- [et_pb_line_break_holder] --> tax threshold<br><!-- [et_pb_line_break_holder] --> </strong>Main Rate 40%<strong> </strong></font></td><!-- [et_pb_line_break_holder] --> <td><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">325,000<br><!-- [et_pb_line_break_holder] --> <br><!-- [et_pb_line_break_holder] --> </font></div></td><!-- [et_pb_line_break_holder] --> <td><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">325,000<br><!-- [et_pb_line_break_holder] --> <br><!-- [et_pb_line_break_holder] --> </font></div></td><!-- [et_pb_line_break_holder] --> <td><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">0<br><!-- [et_pb_line_break_holder] --> <br><!-- [et_pb_line_break_holder] --> </font></div></td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> </table>
<table width="600" border="1" cellpadding="5" cellspacing="2" bordercolor="#000000"><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td colspan="2"><div align="center"><font size="2" face="Arial, Helvetica, sans-serif"><strong>Taxable <!-- [et_pb_line_break_holder] --> bands 2015-16 (£)</strong></font></div></td><!-- [et_pb_line_break_holder] --> <td colspan="2"><div align="center"><font size="2" face="Arial, Helvetica, sans-serif"><strong>Taxable <!-- [et_pb_line_break_holder] --> bands 2016-17 (£)</strong></font></div></td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td width="150" height="31"><font size="2" face="Arial, Helvetica, sans-serif">Starting <!-- [et_pb_line_break_holder] --> rate 10%</font></td><!-- [et_pb_line_break_holder] --> <td width="150"> <div align="right">–</div></td><!-- [et_pb_line_break_holder] --> <td width="150"><font size="2" face="Arial, Helvetica, sans-serif">Starting <!-- [et_pb_line_break_holder] --> rate 10%</font></td><!-- [et_pb_line_break_holder] --> <td width="150"> <div align="right">–</div></td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td><font size="2" face="Arial, Helvetica, sans-serif">Basic <!-- [et_pb_line_break_holder] --> rate 20%</font></td><!-- [et_pb_line_break_holder] --> <td><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">0 <!-- [et_pb_line_break_holder] --> – 31,785</font></div></td><!-- [et_pb_line_break_holder] --> <td><font size="2" face="Arial, Helvetica, sans-serif">Basic <!-- [et_pb_line_break_holder] --> rate 20%</font></td><!-- [et_pb_line_break_holder] --> <td><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">0 <!-- [et_pb_line_break_holder] --> – 32,000</font></div></td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td height="28"><font size="2" face="Arial, Helvetica, sans-serif">Higher <!-- [et_pb_line_break_holder] --> rate 40%</font></td><!-- [et_pb_line_break_holder] --> <td><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">31,785 <!-- [et_pb_line_break_holder] --> - 150,000</font></div></td><!-- [et_pb_line_break_holder] --> <td><font size="2" face="Arial, Helvetica, sans-serif">Higher <!-- [et_pb_line_break_holder] --> rate 40%</font></td><!-- [et_pb_line_break_holder] --> <td><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">32,001 <!-- [et_pb_line_break_holder] --> - 150,000</font></div></td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td><font size="2" face="Arial, Helvetica, sans-serif">Additional <!-- [et_pb_line_break_holder] --> rate 50%</font></td><!-- [et_pb_line_break_holder] --> <td><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">Over <!-- [et_pb_line_break_holder] --> 150,000</font></div></td><!-- [et_pb_line_break_holder] --> <td><font size="2" face="Arial, Helvetica, sans-serif">Additional <!-- [et_pb_line_break_holder] --> rate 45%</font></td><!-- [et_pb_line_break_holder] --> <td><div align="right"><font size="2" face="Arial, Helvetica, sans-serif">Over <!-- [et_pb_line_break_holder] --> 150,000</font></div></td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> </table>
<table cellpadding=7 width=600 border=1 cellspacing="2" bordercolor="#000000"><!-- [et_pb_line_break_holder] --> <tbody><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td width="280"><font face="Arial, Helvetica, sans-serif" size="-1"><strong> Income <!-- [et_pb_line_break_holder] --> Tax rates</strong></font></td><!-- [et_pb_line_break_holder] --> <td width="160"><font face="Arial, Helvetica, sans-serif" size="-1"><strong>April <!-- [et_pb_line_break_holder] --> 2015-16</strong></font></td><!-- [et_pb_line_break_holder] --> <td width="160"><font face="Arial, Helvetica, sans-serif" size="-1"><strong>April <!-- [et_pb_line_break_holder] --> 2016-17</strong></font></td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">Basic <!-- [et_pb_line_break_holder] --> rate</font></td><!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">20%</font></td><!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">20%</font></td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">Higher <!-- [et_pb_line_break_holder] --> rate</font></td><!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">40%</font></td><!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">40%</font></td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">Additional <!-- [et_pb_line_break_holder] --> rate</font></td><!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">45%</font></td><!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">45%</font></td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">Dividend <!-- [et_pb_line_break_holder] --> ordinary rate - for dividends otherwise taxable at the <!-- [et_pb_line_break_holder] --> basic rate<br><!-- [et_pb_line_break_holder] --> (effective rate with tax credit)</font></td><!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">10%<br><!-- [et_pb_line_break_holder] --> <br><!-- [et_pb_line_break_holder] --> (0%) </font></td><!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">7.5%</font></td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">Dividend <!-- [et_pb_line_break_holder] --> upper rate - for dividends otherwise taxable at the <!-- [et_pb_line_break_holder] --> higher rate<br><!-- [et_pb_line_break_holder] --> (effective rate with tax credit)</font></td><!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1"> 32.5%<br><!-- [et_pb_line_break_holder] --> <br><!-- [et_pb_line_break_holder] --> (25%) </font></td><!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">32.5%</font></td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">Dividend <!-- [et_pb_line_break_holder] --> additional rate - for dividends otherwise taxable at <!-- [et_pb_line_break_holder] --> the additional rate<br><!-- [et_pb_line_break_holder] --> (effective rate with tax credit)</font></td><!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">37.5%<br><!-- [et_pb_line_break_holder] --> <br><!-- [et_pb_line_break_holder] --> (30.6%) </font></td><!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">38.1%</font></td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1"> <!-- [et_pb_line_break_holder] --> <strong>Dividend allowance</strong><br><!-- [et_pb_line_break_holder] --> From April 2016, the new Dividend Allowance means that <!-- [et_pb_line_break_holder] --> individuals will not have to pay tax on the first £5,000 <!-- [et_pb_line_break_holder] --> of dividend income they receive.</font> </td><!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">N/A</font></td><!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">£5000</font></td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1"><strong>Personal <!-- [et_pb_line_break_holder] --> savings allowance</strong><br><!-- [et_pb_line_break_holder] --> From April 2016, the new Personal Savings Allowance <!-- [et_pb_line_break_holder] --> means that basic rate taxpayers will not have to pay <!-- [et_pb_line_break_holder] --> tax on the first £1,000 of savings income they <!-- [et_pb_line_break_holder] --> receive.<br><!-- [et_pb_line_break_holder] --> <br><!-- [et_pb_line_break_holder] --> Higher rate taxpayers will not have tax to pay on their <!-- [et_pb_line_break_holder] --> first £500 of savings income.</font></td><!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">N/A</font></td><!-- [et_pb_line_break_holder] --> <td><font size="-1" face="Arial, Helvetica, sans-serif">£1000<br><!-- [et_pb_line_break_holder] --> <br><!-- [et_pb_line_break_holder] --> <br><!-- [et_pb_line_break_holder] --> <br><!-- [et_pb_line_break_holder] --> <br><!-- [et_pb_line_break_holder] --> <br><!-- [et_pb_line_break_holder] --> £500 </font></td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> </tbody><!-- [et_pb_line_break_holder] --> </table>
<table cellpadding=7 width=600 border=1 cellspacing="2" bordercolor="#000000"><!-- [et_pb_line_break_holder] --> <tbody><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td width="189"><font face="Arial, Helvetica, sans-serif" size="-1"> <strong>Starting <!-- [et_pb_line_break_holder] --> rate for savings</strong></font></td><!-- [et_pb_line_break_holder] --> <td width="181"><font face="Arial, Helvetica, sans-serif" size="-1"><strong>April <!-- [et_pb_line_break_holder] --> 2015-16</strong></font></td><!-- [et_pb_line_break_holder] --> <td width="172"><font face="Arial, Helvetica, sans-serif" size="-1"><strong>April <!-- [et_pb_line_break_holder] --> 2016-17</strong></font></td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">Starting <!-- [et_pb_line_break_holder] --> rate for savings</font></td><!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">0%</font></td><!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">0%</font></td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">Starting <!-- [et_pb_line_break_holder] --> rate limit for savings</font></td><!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">£5000</font></td><!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">£5000</font></td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> </tbody><!-- [et_pb_line_break_holder] --> </table>
<table width="600" border="1" cellpadding="5" cellspacing="2" bordercolor="#000000"><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td width="300"><strong><font size="2" face="Arial, Helvetica, sans-serif">Corporation <!-- [et_pb_line_break_holder] --> tax profits 2016-17 (£)</font></strong></td><!-- [et_pb_line_break_holder] --> <td width="300"> </td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td><font size="2" face="Arial, Helvetica, sans-serif">All <!-- [et_pb_line_break_holder] --> profits - main rate 20%</font></td><!-- [et_pb_line_break_holder] --> <td><div align="right"></div></td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td><font size="2" face="Arial, Helvetica, sans-serif">Marginal <!-- [et_pb_line_break_holder] --> relief N/A</font></td><!-- [et_pb_line_break_holder] --> <td><div align="right"></div></td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> </table>
National Insurance
<table frame="BORDER" cellspacing="2" cellpadding="5"<!-- [et_pb_line_break_holder] --> width="600" bordercolor="#000000" border="1"><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td valign="TOP" height="28"> </td><!-- [et_pb_line_break_holder] --> <td height="28" colspan="2" valign="TOP"><div align="center"><strong><font size="2" face="Arial, Helvetica, sans-serif">2015/2016</font></strong></div></td><!-- [et_pb_line_break_holder] --> <td height="28" colspan="2" valign="TOP"><div align="center"><font size="2" face="Arial, Helvetica, sans-serif"><strong>2016/2017</strong></font></div></td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td colspan="5" valign="TOP" height="28"> <font face="Arial" size="2"><b>Class <!-- [et_pb_line_break_holder] --> 1 Employees</b></font> </td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td width="28%" valign="TOP"> <font face="Arial" size="2">On <!-- [et_pb_line_break_holder] --> first</font> </td><!-- [et_pb_line_break_holder] --> <td width="21%" valign="TOP"> <font face="Arial" size="2">£155 <!-- [et_pb_line_break_holder] --> pw</font></td><!-- [et_pb_line_break_holder] --> <td width="15%" valign="TOP"> <font face="Arial" size="2">Nil</font> <!-- [et_pb_line_break_holder] --> </td><!-- [et_pb_line_break_holder] --> <td width="21%" valign="TOP"> <font face="Arial" size="2">£155 <!-- [et_pb_line_break_holder] --> pw</font></td><!-- [et_pb_line_break_holder] --> <td width="15%" valign="TOP"> <font face="Arial" size="2">Nil</font> <!-- [et_pb_line_break_holder] --> </td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td width="28%" valign="TOP" height="32"> <font face="Arial" size="2">Between <!-- [et_pb_line_break_holder] --> </font> </td><!-- [et_pb_line_break_holder] --> <td width="21%" valign="TOP" height="32"> <font face="Arial" size="2">£153 <!-- [et_pb_line_break_holder] --> - £805 pw</font></td><!-- [et_pb_line_break_holder] --> <td width="15%" valign="TOP" height="32"> <font face="Arial" size="2">12%</font> <!-- [et_pb_line_break_holder] --> </td><!-- [et_pb_line_break_holder] --> <td width="21%" valign="TOP" height="32"> <font face="Arial" size="2">£155 <!-- [et_pb_line_break_holder] --> - £827 pw</font></td><!-- [et_pb_line_break_holder] --> <td width="15%" valign="TOP" height="32"> <font face="Arial" size="2">12%</font> <!-- [et_pb_line_break_holder] --> </td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td width="28%" valign="TOP"> <font face="Arial" size="2">Over <!-- [et_pb_line_break_holder] --> </font> </td><!-- [et_pb_line_break_holder] --> <td width="21%" valign="TOP"> <font face="Arial" size="2">£815 <!-- [et_pb_line_break_holder] --> pw</font></td><!-- [et_pb_line_break_holder] --> <td width="15%" valign="TOP"> <font face="Arial" size="2">2%</font></td><!-- [et_pb_line_break_holder] --> <td width="21%" valign="TOP"> <font face="Arial" size="2">£827 <!-- [et_pb_line_break_holder] --> pw</font></td><!-- [et_pb_line_break_holder] --> <td width="15%" valign="TOP"> <font face="Arial" size="2">2%</font></td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td colspan="2" valign="TOP"><font size="2" face="Arial, Helvetica, sans-serif"><strong>Employee's <!-- [et_pb_line_break_holder] --> contracted-out rate</strong></font></td><!-- [et_pb_line_break_holder] --> <td valign="TOP"><font face="Arial" size="2">1.4%</font></td><!-- [et_pb_line_break_holder] --> <td valign="TOP"> </td><!-- [et_pb_line_break_holder] --> <td valign="TOP"><font face="Arial" size="2">1.4%</font></td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td colspan="5" valign="TOP" height="20"> <font face="Arial" size="2"><b>Class <!-- [et_pb_line_break_holder] --> 1 Employers</b></font> </td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td width="28%" valign="TOP"> <font face="Arial" size="2">On <!-- [et_pb_line_break_holder] --> first</font> </td><!-- [et_pb_line_break_holder] --> <td width="21%" valign="TOP"> <font face="Arial" size="2">£155 <!-- [et_pb_line_break_holder] --> pw</font></td><!-- [et_pb_line_break_holder] --> <td width="15%" valign="TOP"> <font face="Arial" size="2">Nil</font> <!-- [et_pb_line_break_holder] --> </td><!-- [et_pb_line_break_holder] --> <td width="21%" valign="TOP"> <font face="Arial" size="2">£156 <!-- [et_pb_line_break_holder] --> pw</font> </td><!-- [et_pb_line_break_holder] --> <td width="15%" valign="TOP"> <font face="Arial" size="2">Nil</font> <!-- [et_pb_line_break_holder] --> </td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td width="28%" valign="TOP"> <font face="Arial" size="2">Over</font></td><!-- [et_pb_line_break_holder] --> <td width="21%" valign="TOP"> <font face="Arial" size="2">£155 <!-- [et_pb_line_break_holder] --> pw</font></td><!-- [et_pb_line_break_holder] --> <td width="15%" valign="TOP"> <font face="Arial" size="2">13.8%</font> <!-- [et_pb_line_break_holder] --> </td><!-- [et_pb_line_break_holder] --> <td width="21%" valign="TOP"> <font face="Arial" size="2">£156 <!-- [et_pb_line_break_holder] --> pw</font> </td><!-- [et_pb_line_break_holder] --> <td width="15%" valign="TOP"> <font face="Arial" size="2">13.8%</font> <!-- [et_pb_line_break_holder] --> </td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td colspan="2" valign="TOP"><font face="Arial" size="2"><b>Employers' <!-- [et_pb_line_break_holder] --> contracted-out rebate, salary related schemes</b></font></td><!-- [et_pb_line_break_holder] --> <td valign="TOP"><font face="Arial" size="2">3.4%</font></td><!-- [et_pb_line_break_holder] --> <td valign="TOP"> </td><!-- [et_pb_line_break_holder] --> <td valign="TOP"><font face="Arial" size="2">3.4%</font></td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td colspan="2" valign="TOP"><font face="Arial" size="2"><b>Employers' <!-- [et_pb_line_break_holder] --> contracted-out rebate, money purchase schemes</b></font></td><!-- [et_pb_line_break_holder] --> <td valign="TOP"><font face="Arial" size="2">Abolished</font></td><!-- [et_pb_line_break_holder] --> <td valign="TOP"> </td><!-- [et_pb_line_break_holder] --> <td valign="TOP"><font size="2" face="Arial">Abolished</font></td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td colspan="5" valign="TOP" height="22"> <b><font face="Arial" size="2">Class <!-- [et_pb_line_break_holder] --> 2 Self employed</font></b></td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td colspan="2" valign="TOP"><font face="Arial" size="2">Flat <!-- [et_pb_line_break_holder] --> rate</font></td><!-- [et_pb_line_break_holder] --> <td height="31" valign="TOP"><font face="Arial" size="2">£2.80 <!-- [et_pb_line_break_holder] --> pw</font></td><!-- [et_pb_line_break_holder] --> <td valign="TOP"> </td><!-- [et_pb_line_break_holder] --> <td valign="TOP"><font face="Arial" size="2">£2.80 <!-- [et_pb_line_break_holder] --> pw</font></td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td colspan="2" valign="TOP"><font size="2" face="Arial, Helvetica, sans-serif">Small <!-- [et_pb_line_break_holder] --> earnings exception</font></td><!-- [et_pb_line_break_holder] --> <td height="31" valign="TOP"><font size="2" face="Arial, Helvetica, sans-serif">£5,965 <!-- [et_pb_line_break_holder] --> pa</font></td><!-- [et_pb_line_break_holder] --> <td valign="TOP"> </td><!-- [et_pb_line_break_holder] --> <td valign="TOP"><font size="2" face="Arial, Helvetica, sans-serif">£5,965 <!-- [et_pb_line_break_holder] --> pa</font></td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td colspan="2" valign="TOP"><font size="2" face="Arial, Helvetica, sans-serif">Special <!-- [et_pb_line_break_holder] --> Class 2 rate for share fishermen</font></td><!-- [et_pb_line_break_holder] --> <td height="31" valign="TOP"><font face="Arial" size="2">£3.45 <!-- [et_pb_line_break_holder] --> pw</font></td><!-- [et_pb_line_break_holder] --> <td valign="TOP"> </td><!-- [et_pb_line_break_holder] --> <td valign="TOP"><font face="Arial" size="2">£3.45 <!-- [et_pb_line_break_holder] --> pw</font></td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td colspan="2" valign="TOP"><font size="2" face="Arial, Helvetica, sans-serif">Special <!-- [et_pb_line_break_holder] --> Class 2 rate for volunteer development workers</font></td><!-- [et_pb_line_break_holder] --> <td height="35" valign="TOP"><font face="Arial" size="2">£5.60 <!-- [et_pb_line_break_holder] --> pw</font></td><!-- [et_pb_line_break_holder] --> <td valign="TOP"> </td><!-- [et_pb_line_break_holder] --> <td valign="TOP"><font face="Arial" size="2">£5.60 <!-- [et_pb_line_break_holder] --> pw</font></td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td colspan="5" valign="TOP" height="2"> <b><font face="Arial" size="2">Class <!-- [et_pb_line_break_holder] --> 3 Voluntary</font></b></td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td width="28%" valign="TOP"> <font face="Arial" size="2"> Flat <!-- [et_pb_line_break_holder] --> rate</font></td><!-- [et_pb_line_break_holder] --> <td width="21%" valign="TOP"> <font face="Arial, Helvetica, sans-serif"><font<!-- [et_pb_line_break_holder] --> face="Arial, Helvetica, sans-serif"><font size="2"><font<!-- [et_pb_line_break_holder] --> face="Arial"></font></font></font></font> <!-- [et_pb_line_break_holder] --> </td><!-- [et_pb_line_break_holder] --> <td width="15%" valign="TOP"> <font face="Arial" size="2">£14.10 <!-- [et_pb_line_break_holder] --> pw</font></td><!-- [et_pb_line_break_holder] --> <td width="21%" valign="TOP"> <font face="Arial, Helvetica, sans-serif"><font<!-- [et_pb_line_break_holder] --> face="Arial, Helvetica, sans-serif"><font size="2"><font<!-- [et_pb_line_break_holder] --> face="Arial"></font></font></font></font> <!-- [et_pb_line_break_holder] --> </td><!-- [et_pb_line_break_holder] --> <td width="15%" valign="TOP"> <font face="Arial" size="2">£14.10 <!-- [et_pb_line_break_holder] --> pw</font> </td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td colspan="5" valign="TOP" height="18"> <font face="Arial" size="2"> <b>Class <!-- [et_pb_line_break_holder] --> 4 Self employed</b></font></td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td width="28%" valign="TOP"> <font face="Arial" size="2">On <!-- [et_pb_line_break_holder] --> profits between</font> </td><!-- [et_pb_line_break_holder] --> <td width="21%" valign="TOP"> <font face="Arial" size="2">£8,060 <!-- [et_pb_line_break_holder] --> - £42,385<br><!-- [et_pb_line_break_holder] --> pa</font></td><!-- [et_pb_line_break_holder] --> <td width="15%" valign="TOP"> <font face="Arial, Helvetica, sans-serif"><font<!-- [et_pb_line_break_holder] --> face="Arial, Helvetica, sans-serif"><font size="2"><font face="Arial">9%</font></font></font></font> <!-- [et_pb_line_break_holder] --> </td><!-- [et_pb_line_break_holder] --> <td width="21%" valign="TOP"> <font face="Arial" size="2">£8,060 <!-- [et_pb_line_break_holder] --> - £43,000<br><!-- [et_pb_line_break_holder] --> pa</font></td><!-- [et_pb_line_break_holder] --> <td width="15%" valign="TOP"> <font face="Arial, Helvetica, sans-serif"><font<!-- [et_pb_line_break_holder] --> face="Arial, Helvetica, sans-serif"><font size="2"><font face="Arial">9%</font></font></font></font> <!-- [et_pb_line_break_holder] --> </td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td valign="TOP" height="35">  </td><!-- [et_pb_line_break_holder] --> <td valign="TOP" height="35"><font face="Arial, Helvetica, sans-serif"><font<!-- [et_pb_line_break_holder] --> face="Arial, Helvetica, sans-serif"><font<!-- [et_pb_line_break_holder] --> face="Arial, Helvetica, sans-serif"><font face="Arial, Helvetica, sans-serif"><font<!-- [et_pb_line_break_holder] --> face="Arial, Helvetica, sans-serif"><font face="Arial, Helvetica, sans-serif"><font<!-- [et_pb_line_break_holder] --> face="Arial, Helvetica, sans-serif"><font face="Arial, Helvetica, sans-serif"><font<!-- [et_pb_line_break_holder] --> face="Arial, Helvetica, sans-serif"><font face="Arial, Helvetica, sans-serif"><font<!-- [et_pb_line_break_holder] --> face="Arial, Helvetica, sans-serif"><font face="Arial, Helvetica, sans-serif"><font<!-- [et_pb_line_break_holder] --> face="Arial, Helvetica, sans-serif"><font size="2"><font<!-- [et_pb_line_break_holder] --> face="Arial">above £</font><font face="Arial" size="2">42,385</font></font></font></font><font size="2"></font></font></font><font size="2"></font></font></font><font size="2"></font></font></font><font size="2"></font></font></font></font></font></font></td><!-- [et_pb_line_break_holder] --> <td width="15%" valign="TOP" height="35"> <font face="Arial, Helvetica, sans-serif" size="2">2%</font></td><!-- [et_pb_line_break_holder] --> <td width="21%" valign="TOP" height="35"> <font face="Arial, Helvetica, sans-serif"><font<!-- [et_pb_line_break_holder] --> face="Arial, Helvetica, sans-serif"><font size="2"><font<!-- [et_pb_line_break_holder] --> face="Arial">above </font></font></font></font><font face="Arial" size="2">£43,000</font></td><!-- [et_pb_line_break_holder] --> <td width="15%" valign="TOP" height="35"> <font face="Arial, Helvetica, sans-serif" size="2">2%</font></td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> </table>
Stamp Taxes

Transfers of property (consideration paid)

<table cellpadding=7 width=600 border=1 cellspacing="2" bordercolor="#000000"><!-- [et_pb_line_break_holder] --> <tbody><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td width="41"><b><font face="Arial, Helvetica, sans-serif" size="-1">Rate</font></b></td><!-- [et_pb_line_break_holder] --> <td width="202"> <div align=center><font face="Arial, Helvetica, sans-serif" size="-1"><b>All <!-- [et_pb_line_break_holder] --> land in the UK</b></font></div></td><!-- [et_pb_line_break_holder] --> <td width="34"><b><font face="Arial, Helvetica, sans-serif" size="-1">Rate</font></b></td><!-- [et_pb_line_break_holder] --> <td width="247"><div align="center"><font face="Arial, Helvetica, sans-serif" size="-1"><b>All <!-- [et_pb_line_break_holder] --> land in the UK</b></font></div></td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1"> </font></td><!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">Residential</font></td><!-- [et_pb_line_break_holder] --> <td> </td><!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">Additional <!-- [et_pb_line_break_holder] --> residential property</font></td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">Zero</font></td><!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">£0 <!-- [et_pb_line_break_holder] --> – £125,000</font></td><!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">3%</font></td><!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">£0 <!-- [et_pb_line_break_holder] --> – £125,000</font></td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">2%</font></td><!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">On <!-- [et_pb_line_break_holder] --> the next £125,000</font></td><!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">5%</font></td><!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">On <!-- [et_pb_line_break_holder] --> the next £125,000</font></td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">5%</font></td><!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">On <!-- [et_pb_line_break_holder] --> the next £675,000</font></td><!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">8%</font></td><!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">On <!-- [et_pb_line_break_holder] --> the next £675,000</font></td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">10%</font></td><!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">On <!-- [et_pb_line_break_holder] --> the next £575,000</font></td><!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">13%</font></td><!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">On <!-- [et_pb_line_break_holder] --> the next £575,000</font></td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">12%</font></td><!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">On <!-- [et_pb_line_break_holder] --> the rest (above) £1,500,000</font></td><!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">15%</font></td><!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">On <!-- [et_pb_line_break_holder] --> the rest (above) £1,500,000</font></td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> </tbody><!-- [et_pb_line_break_holder] --> </table>
Previously, SDLT was charged at a single rate for the entire price of a property. From 4 December, SDLT is charged at increasing rates for each portion of the price.
<table cellpadding=7 width=400 border=1 cellspacing="2" bordercolor="#000000"><!-- [et_pb_line_break_holder] --> <tbody><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td><b><font face="Arial, Helvetica, sans-serif" size="-1">Rate</font></b></td><!-- [et_pb_line_break_holder] --> <td> <div align=center><font face="Arial, Helvetica, sans-serif" size="-1"><b>All <!-- [et_pb_line_break_holder] --> land in the UK</b></font></div></td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1"> </font></td><!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">Non <!-- [et_pb_line_break_holder] --> Residential</font></td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">Zero</font></td><!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">£0 <!-- [et_pb_line_break_holder] --> – £150,000</font></td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">1%</font></td><!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">£150,001 <!-- [et_pb_line_break_holder] --> – £250,000</font></td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">3%</font></td><!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">£250,001 <!-- [et_pb_line_break_holder] --> – £500,000</font></td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">4%</font></td><!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">£500,001 <!-- [et_pb_line_break_holder] --> upwards </font></td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> </tbody><!-- [et_pb_line_break_holder] --> </table>
The rate of stamp duty / stamp duty reserve tax on the transfer of shares and securities is unchanged at 0.5% for 2014-15.
Value Added Tax (VAT)
<table cellpadding=7 width=600 border=1 cellspacing="2" bordercolor="#000000"><!-- [et_pb_line_break_holder] --> <tbody><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td width="146"><font face="Arial, Helvetica, sans-serif" size="-1"> </font></td><!-- [et_pb_line_break_holder] --> <td width="197"><font face="Arial, Helvetica, sans-serif" size="-1"><strong>April <!-- [et_pb_line_break_holder] --> 2015-16</strong></font></td><!-- [et_pb_line_break_holder] --> <td width="199"><font face="Arial, Helvetica, sans-serif" size="-1"><strong>April <!-- [et_pb_line_break_holder] --> 2016-17</strong></font></td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">Standard <!-- [et_pb_line_break_holder] --> rate </font></td><!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">20%</font></td><!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">20%</font></td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">Reduced <!-- [et_pb_line_break_holder] --> rate </font></td><!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">5%</font></td><!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">5%</font></td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">Zero <!-- [et_pb_line_break_holder] --> rate </font></td><!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">0%</font></td><!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">0%</font></td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">Exempt</font></td><!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">n/a</font></td><!-- [et_pb_line_break_holder] --> <td><font size="-1" face="Arial, Helvetica, sans-serif">n/a</font></td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> </tbody><!-- [et_pb_line_break_holder] --> </table>
Value Added Tax (VAT) – Registration and Deregistration thresholds
<table cellpadding=7 width=600 border=1 cellspacing="2" bordercolor="#000000"><!-- [et_pb_line_break_holder] --> <tbody><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td width="210"><font face="Arial, Helvetica, sans-serif" size="-1"> </font></td><!-- [et_pb_line_break_holder] --> <td width="172"><font face="Arial, Helvetica, sans-serif" size="-1"><strong>From <!-- [et_pb_line_break_holder] --> April 2015</strong></font></td><!-- [et_pb_line_break_holder] --> <td width="160"><font face="Arial, Helvetica, sans-serif" size="-1"><strong>From <!-- [et_pb_line_break_holder] --> April 2016</strong></font></td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">VAT <!-- [et_pb_line_break_holder] --> - registration threshold</font></td><!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">82,000</font></td><!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">83,000</font></td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> <tr> <!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">VAT <!-- [et_pb_line_break_holder] --> - deregistration threshold</font></td><!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">80,000</font></td><!-- [et_pb_line_break_holder] --> <td><font face="Arial, Helvetica, sans-serif" size="-1">81,000</font></td><!-- [et_pb_line_break_holder] --> </tr><!-- [et_pb_line_break_holder] --> </tbody><!-- [et_pb_line_break_holder] --> </table>