|
TAX
INFORMATION
Below
is some general tax information relevant to the
current tax year (6 April 2008 to 5 April 2009).
| Income
Tax Rates |
|
| Basic
rate (from £0 to £36,000) |
22% |
| Higher
rate (over £36,000) |
40% |
|
| National
Insurance Contributions |
|
| Class
1(earnings between £105 - £770) |
11%
|
| Class
1A and 1B (employers) |
12.8%
|
| Class
2 (self-employed, exemption limit £4,825) |
£2.30
|
| Class
3 (voluntary) |
£8.10
|
| Class
4 (self-employed, profits £5,435-£40,040) |
8%
|
|
| Corporation
Tax Rates |
|
| Small
companies' rate |
20% |
| Marginal
small companies' relief |
£300,000-£1,500,000 |
| Main
tax rate (profit >£1,500,000) |
30% |
|
| Inheritance
Tax |
|
| Threshold |
£312,000 |
| Death
rate |
40% |
|
| Capital
Gains Tax |
|
|
Individual Exemption |
£9,200 |
| Other
trustees |
£4,600
|
|
| Stamp
Duty |
|
| Up
to £125,000 |
Nil
|
| £125,001
- £250,000 |
1% |
| £250,001
- £500,000 |
3% |
| Over
£500,000 |
4% |
|
| Others
|
|
| Personal
Taxation Allowance (below 65 yrs old) |
£5,435
|
| Individual
Savings Accounts investment limit |
£7,200 |
| Value
Added Tax (VAT- standard rate) |
17.5% |
For information on other
tax rates, please do not hesitate to contact
us, or go to the
HM Revenue & Customs
website
for a complete listing.
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