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Rates 16/17 17/18 Basic rate of 20% on income up to : UK (excl. Scotland) £32,000 £33,500 Scotland £32,000 £31,500* Higher rate of 40% on income over: UK (excl. Scotland)

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16/17 17/18 Nil-rate band* £325,000 £325,000 Residence nil-rate band* N/A £100,000† Rate of tax on excess Rate if at least 10% of net estate left to charity 40% 36% 40%

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Plant & machinery 100% annual investment allowance (1st year) £200,000 Enterprise zone plant & machinery (Max €125m per investment project) 100% Plant & machinery (annual reducing balance) 18% pa Patent

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Income Tax, NIC and Capital Gains Tax – Self-assessment 31 Jan in tax year Following 31 July Following 31 Jan } · Normally 50% of previous year’s income tax (less

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Main personal allowances and reliefs 16/17 17/18 £ £ Personal (basic) 11,000 11,500 Personal reduced by £1 for every £2 of net income over 100,000 100,000 Marriage / civil partners’

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Class 1 employee 16/17 17/18 Employee Employer Employee Employer NIC rate 12% 13.8% 12% 13.8% No NICs on the first: Age under 21/25 for apprentices Age 21/25 & over £155

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Residential property value (on slices of value) UK (excl. Scotland) Stamp Duty Land Tax (SDLT) % Scotland Land and Buildings Transaction Tax (LBTT) % Up to £125,000 0 Up to

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16/17 17/18 Lifetime allowance £1,000,000 £1,000,000 Annual allowance* £40,000 £40,000 Money purchase annual allowance £10,000 £4,000 Annual allowance charge on excess 20%–45% 20%–45% Max. pension commencement lump sum: 25% of

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Rates per mile Cars first 10,000 miles 45p per mile thereafter: 25p per mile Qualifying passenger 5p per mile Motorcycles 24p per mile Bicycles 20p per mile

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16/17 17/18 Individual Savings Account (ISA) £15,240 £20,000 Junior ISA and Child Trust Fund £4,080 £4,128 Help to Buy ISA £1,000 initial and £200 per month Lifetime ISA N/A £4,000

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Standard rate 20% Reduced rate, e.g. on domestic fuel 5% Registration level from 1/4/17 £85,000 Deregistration level from 1/4/17 £83,000 Flat rate scheme turnover limit £150,000 Cash and annual accounting