Current Statutory Tax Data Information
Tax Rates & Allowances
The data provided here is current and up to date. 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 Allowances | 14/15 | 15/16 | 16/17 |
| £ | £ | £ | |
| Personal* | 10,000 | 10,600 | 11,000 |
| Age 65-74** | 10,500 | 10,600 | n/a |
| Age: 75 and over ** | 10,660 | 10,660 | n/a |
| Income limit for age related allowances | 27,000 | £27,700 | £27,700 |
| Dividend allowances | n/a | n/a | 5,000 |
| Personal savings allowance*** | n/a | n/a | 1,000 |
* 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. |
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| Age related allowances available at 10% (see note above) | 14/15 | 15/16 | 16/17 |
| £ | £ | £ | |
| Married couple's allowance (MCA) | |||
| Age 75 and over - maximum rate | 8,165 | 8,355 | 8,355 |
| Age 75 and over - minimum rate | 3,140 | 3,220 | 3,220 |
| Rate on taxable income | 14/15 | 15/16 | 16/17 | ||||
| Band | Rate | Band | Rate | Band | Rate | Dividend Rate | |
| £ | % | £ | % | £ | % | % | |
| *Savings rate (SR) on first | 2,880 | 10 | 5,000 | 10 | 5,000 | 0 | n/a |
| Basic rate (BR) up to | 31,865 | 20 | 31,785 | 20 | 32,000 | 20 | 7.5 |
| Higher rate (HR) above | 31,865 | 40 | 31,785 | 20 | 40 | 32,000 | 32.5 |
| Additional rate (AR) on over | 150,000 | 50 | 150,000 | 45 | 150,000 | 45 | 38.1 |
| * There is a 10 per cent starting rate for savings income only. If your non-savings income is above this limit then the 10 per cent starting rate for savings will not apply | |||||||
| Annual Exemption (AE) | ||
| 14/15 | 15/16 | |
| Individuals | £11,000 | £11,100 |
| Trustees | £5,500 | £5,550 |
| Standard Rate | 18% | 18% |
| Higher Rate | 28% | 28% |
| Entrepreneur Relief Rate | 10% | 10% |
| Corporation Tax | |||
| Year Ended 31st March | 2015 | 2016 | 2017 |
| Main rate - profits over £1.5million | 21% | 20% | 20% |
| Small company rate - up to £300,000 | 20% | 20% | 20% |
| Marginal rate between two bands | 21.25% | n/a | n/a |
| National Insurance Contributions | ||||
| Class 1 Employment | 14/15 | 15/16 | 16/17 | |
| Lower earnings limit | pw | £111 | £112 | £112 |
| pa | £5,772 | £5,824 | £5,824 | |
| Upper earnings limit (UEL) | pw | £805 | £815 | £827 |
| pa | £41,865 | £42,385 | £43,000 | |
| Primary threshold (employee) | pw | £153 | £155 | £155 |
| pa | £7,956 | £8,060 | £8,060 | |
| Secondary threshold (employer) | pw | £153 | £156 | £156 |
| pa | £7,956 | £8,112 | £8,112 | |
| Employees' Class 1 rate between primary threshold and UEL | 12% | 12% | 12% | |
| Employees' Class 1 rate above UEL | 2% | 2% | 2% | |
| Employers' secondary Class 1 rate above secondary threshold | 13.8% | 13.8% | 13.8% | |
| Class 2 rate | pw | £2.75 | £2.80 | £2.80 |
| Class 2 small earnings exception | pa | £5,885 | £5,965 | £5,965 |
| Class 3 rate | pw | £13.90 | £14.10 | £14.10 |
| Class 4 lower profits limit | pa | £7,956 | £8,060 | £8,060 |
| Class 4 upper profits limit | pa | £41,865 | £42,385 | £43,000 |
| Class 4 rate between lower profits limit and upper profits limit | 9% | 9% | 9% | |
| Class 4 rate above upper profits limit | 2% | 2% | 2% | |
| Working Tax Credit - £ per year | |||
| Rates and Thresholds | 14/15 | 15/16 | 16/17 |
| Basic element | £1,940 | £1,960 | £1,960 |
| Couple and lone parent element | £1,990 | £2,010 | £2,010 |
| 30 hour element | £800 | £810 | £810 |
| Disabled worker element | £2,935 | £2,970 | £2,970 |
| Severe disability element | £1,255 | £1,275 | £1,275 |
| Child Tax Credit - £ per year (unless stated) | |||
| Rates and Thresholds | 14/15 | 15/16 | 16/17 |
| 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 covered | 70% | 70% | 70% |
| Family element | £545 | £545 | £545 |
| Child element | £2,750 | £2,780 | £2,780 |
| Disabled child element | £3,100 | £3,140 | £3,140 |
| Severely disabled child element | £1,255 | £1,275 | £1,275 |
| Income thresholds and withdrawal rates - £ per year | |||
| Rates and Thresholds | 14/15 | 15/16 | 16/17 |
| 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 | £16,010 | £16,105 | £16,105 |
| Income rise disregard | £5,000 | £5,000 | £2,500 |
| Income fall disregard | £2,500 | £2,500 | £2,500 |