Tax relief available for personal contributions is the higher of £3,600 (gross) or 100% of relevant earnings. Any contributions in excess of £40,000, whether personal or by the employer, may be subject to income tax on the individual. The limit may be reduced to £4,000 once money purchase pensions are accessed. Where the £40,000 limit […]
Income Tax rates for 2018/19 – Scotland
Income Tax applies to the amount of income after deduction of personal allowances. Income is taxed in a specific order with savings and dividend income taxed last. Dividend income and savings income falling within the dividend and savings allowances still form part of total income of an individual. The starting rate band is only applicable […]
Child Benefit is receivable by a person responsible for each child until they reach 16, or 19 if they stay in education or training. If the person (or their spouse or partner) has ‘adjusted net income’ above £50,000 the person with the highest income has to pay some of the Child Benefit as a tax charge.
2018/19 tax relief for individuals including Enterprise Investment Scheme, Seed Enterprise Investment Scheme, Social Investment Relief and Venture Capital Trusts.
Stamp Duty and Stamp Duty Land Tax on land and buildings in England, Wales and N. Ireland
Rates apply to land and buildings in Scotland.
2018/19 Auto-enrolment places new duties on employers to automatically enrol ‘workers’ into a work-based pension scheme. Employers are required to automatically enrol all ‘eligible jobholders’ into a qualifying pension scheme and pay pension contributions on their behalf. Phasing in of contributions Employer minimum contribution Total minimum contribution Employer’s staging date to 5 April 2018 1% […]
National Insurance contributions (NIC) – rates and allowances.
MAP rates per business mile 2018/19 and 2017/18.