Read details of the individual tax rates for the year 2018/19.

 

Income Tax

Personal Allowance £11,850
Personal savings allowance for basic rate taxpayers  £1,000
Personal savings allowance for higher rate taxpayers  £500
Dividend allowance  £2,000

Rates (on top of Allowances)

20% Basic rate up to £34,500
40% Higher rate £34,500 – £150,000
Additional rate on inc over £150,000 45%

Corporation Tax

 19%

Inheritance Tax

Standard Rate Up to £325,000 NIL
Over £325,000 40%
Residential Property Nil Rate Band  £125,000

Capital Gains Tax

Individuals

Allowance £11,700 0%
Income up to £34,500 10%* or 18%**
Income over £34,501 20%* or 28%**
* The lower rate applies if shares or unit trusts are being sold.   ** The higher rate applies for property, land and other assets.

ISA Allowances

£20,000
Junior ISA  £4,260

Pension Allowances

Income tax relief on £3,600 or up to taxable earnings
Annual Allowance £40,000
Lifetime Allowance £1,030,000

Stamp Duty

On Property Purchase
Between these values Over £125,001 – £250,000 2%
Over £250,000 – £925,000 5%
Over £925,000 – £1,500,000 10%
Over £1,500,000 12%
 An additional rate above these is payable on buy-to-let/ additional properties  3%
Tax Rates 2018/19

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8 - 12 October 2018
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