Tax rates and allowances
With changes in the tax system now an ever-present feature, our up-to-date experience is available to ensure clients'' tax liabilities are planned to be at a minimum.
The key tax thresholds in England, Wales and Northern Ireland for 2021/22 are:
- personal allowance - up to £12,570
- basic-rate band - £12,571 to £37,770
- higher-rate band - £37,771 to £150,000
- car fuel benefit multiplier - £24,600
- van benefit is £3,500
- van fuel benefit is £669
- capital gains tax annual allowance - £12,300 for individuals, £6,150 for trusts
- residence nil-rate band - £175,000 for individuals
- national living wage increases from £8.72 to £8.91 an hour for over-23s
- junior ISA allowance and child trust fund limits - £9,000
- annual pension allowance - £40,000
- lifetime pension allowance - £1,073,100
As a consequence of devolution, several rates may differ between the four countries that make up the UK. Where applicable these rates are shown in each section of these tax rates and allowances.
Information
- Business
- Personal
- Tax
- Spring Budget 2021
- Tax rates and allowances
- Key dates and deadlines
- Income tax
- Corporation tax
- Inheritance tax
- Capital gains tax
- Value added tax
- National insurance contributions
- Residential property letting
- Main capital allowances
- Patent box
- Business deductions
- Penalties for late returns
- Trusts and settlements
- Non domiciled individuals
- Mileage allowances
- Vehicle benefits
- Vehicle duties
- Pension premiums
- EIS SEIS and VCT
- ISAs
- Stamp and property taxes
- Air passenger duty rates
- Landfill tax
- Charitable giving
- Annual tax on enveloped dwellings
- Diverted profits tax
- Tax credits
- State pension
- VAT
- PAYE and NI
- IR35
- Tax and business calendar
- Budgets and Statements archive
- Calculators