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March 14, 2017

National Insurance Contributions


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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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March 14, 2017

Property Transaction Taxes


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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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March 14, 2017

Registered Pensions


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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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March 14, 2017

Tax-Free Mileage Allowance (own vehicle for business use)


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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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March 14, 2017

Tax-Incentivised Savings


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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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March 14, 2017

Value Added Tax


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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

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