21 Angel Hill,

Tiverton, EX16 6PE
Welcome to Bray Accountants. Professional advice with over 30 years of experience.
18th August 2018

21 Angel Hill,

Tiverton, EX16 6PE

Current Statutory Tax Data Information

Tax Rates & Allowances

The data provided here is for the UK except Scotland. Please be aware that this information will change regularly according to government policy. It is advisable to check this data periodically for updates. For other rates and allowances please check the HMRC website

Tax Free Allowances16/1717/1818/19
£££
Personal*11,00011,50011,850
Transferable marriage allowance1,1001,1501,185
Dividend Allowance5,0005,0002,000
Personal Savings Allowance **1,0001,0001,000
* The Personal Allowance reduces where the income is above £100,000 by £1 for every £2 of income above the limit until the Personal Allowance is reduced to nil.
** Reduced to £500 for higher rate taxpayers.


Age related allowances available at 10%16/1717/1818/19
£££
Married couple's allowance (MCA)
Age 75 and over - maximum rate *8,3558,4458,695
Age 75 and over - minimum rate3,2203,2603,360
Income limit27,70028,00028,900
* Allowance reduced by £1 for every £2 of income in excess of income limit

Rate on taxable income16/17 17/18 18/19 
BandRateBandRateBandRate
£%£%£%
*Savings rate (SR) on first5,00005,00005,0000
Basic rate (BR) up to32,0002033,5002034,50020
Higher rate (HR) above32,0004033,5004034,50040
Additional rate (AR) on over150,00045150,00045150,00045
Dividend Rate - 7.5% up to HR, 32.5% from HR up to AR, 38.1% above AR
* There is a 0% starting rate for savings income only. If your non-savings income is above this limit then the rate for savings will not apply
Annual Exemption (AE)16/1717/1818/19
Individuals£11,100 £11,300£11,700
Trusts£5,550£5,650£5,850
Standard Rate *10%/18%10%/18%10%/18%
Higher Rate20%/28%20%/28%20%/28%
Entrepreneur Relief Rate10%10%10%
* The higher rates of 18% and 28% apply to gains on residential property and carried interest.
Corporation Tax   
Year Ended 31st March201720182019
Rate20%19%19%
National Insurance Contributions    
Class 1 Employment16/1717/1818/19
Lower earnings limitpw£112£113£116
pa£5,824£5,876£6,032
Upper earnings limit (UEL)pw£827£866£892
pa£43,000£45,000£46,350
Primary threshold (employee)pw£155£157£162
pa£8,060£8,164£8,424
Secondary threshold (employer)pw£156£157£162
pa£8,112£8,164£8,424
Employees' Class 1 rate between primary threshold and UEL12%12%12%
Employees' Class 1 rate above UEL2%2%2%
Employers' secondary Class 1 rate above secondary threshold 13.8%13.8%13.8%
Class 2 ratepw£2.80£2.85£2.95
Class 2 small earnings exceptionpa£5,965£6,025£6,205
Class 3 ratepw£14.10£14.25£14.65
Class 4 lower profits limitpa£8,060£8,164£8,424
Class 4 upper profits limitpa£43,000£45,000£46,350
Class 4 rate between lower profits limit and upper profits limit9%9%9%
Class 4 rate above upper profits limit2%2%2%
Working Tax Credit - £ per year
Rates and Thresholds2016/172017/182018/19
Basic element£1,960£1,960£1,960
Couple and lone parent element£2,010£2,010£2,010
30 hour element£810£810£810
Disabled worker element£2,970£3,000£3,090
Severe disability element£1,275£1,290£1,330
Child Tax Credit - £ per year (unless stated)
Rates and Thresholds2016/172017/182018/19
Maximum eligible childcare cost for one child£175/wk£175/wk£175/wk
Maximum eligible childcare cost for two or more children£300/wk£300/wk£300/wk
Percentage of eligible childcare costs covered70%70%70%
Family element£545£545£545
Child element£2,780£2,780£2,780
Disabled child element£3,140£3,175£3,275
Severely disabled child element£4,415£4,465£4,600
Income thresholds and withdrawal rates
Rates and Thresholds2016/172017/182018/19
First income threshold£6,420£6,420£6,420
First withdrawal rate (per cent)41%41%41%
First threshold for those entitled to Child Tax Credit only£16,105£16,105£16,105
Income rise disregard£2,500£2,500£2,500
Income fall disregard£2,500£2,500£2,500
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