Tax rates and tax thresholds

Use these links to find current tax dates and tax thresholds for business taxes.

We've scoured the web to get you the most up-to-date advice which includes the most useful tools on offer from the officials themselves, HMRC and Business Link. The list below links to details of the current tax rates, rates for the previous year and forthcoming changes to tax rates and tax thresholds where they have been previously announced.

Get help estimating tax bills with a range of tax calculators. But bear in mind that calculators can only tell you roughly what your tax bill is likely to be, and certainly not how to reduce it. If you need detailed advice, talk to an accountant.

Income tax rates and tax thresholds

Visit the HM Revenue & Customs (HMRC) website to find income tax rates, allowances and taxable bands.

Use the HMRC tax checker for employees for a quick assessment of whether you are paying the right amount of tax. This calculator is not suitable for the self-employed.

Visit the HMRC website to find approved mileage rates that can be used by small businesses to calculate their allowable motoring expenses.

Corporation tax rates and indexation allowances

Find corporation tax rates including details of the small profits rate and marginal relief by visiting the HMRC website.

Use the HMRC marginal relief calculator for company profits between the small profits rate threshold and the main corporation tax threshold.

Use the HMRC R&D relief calculator to calculate your entitlement to corporation tax relief for research and development expenditure.

On the HMRC website you can also find details of indexation allowances to reduce chargeable gains.

National Insurance and PAYE rates and thresholds

Find National Insurance contributions (NICs) rates and thresholds for employees, employers and the self-employed by visiting the HMRC website.

Visit the HMRC website to find PAYE rates and thresholds for employers.

Use the HMRC PAYE calculator to work out the tax to be deducted from an employee’s pay.

Use the HMRC National Insurance calculator to work out employer’s and employees NICs.

Use the HMRC Directors annual NICs calculator to check the final NICs payment for a director at the end of the tax year or when the directorship ends.

Use HMRC’s statutory payment calculators to work out whether employees qualify for statutory payments and if so how much and what you can recover:

• Statutory Sick Pay (SPP) calculator
• Statutory Maternity Pay (SMP) calculator
• Statutory Paternity Pay (SPP) calculator
• Statutory Paternity Pay (SPP) for adoptions calculator
• Statutory Adoption Pay (SAP) calculator

Use the HMRC company car and car fuel benefit calculator to work out the value of the benefit and estimate the tax payable.

Find approved mileage rates that can be paid free of tax and NICs to employees using their own vehicles for work by visiting the HMRC website.

Download the HMRC IR35 deemed payment spreadsheet to calculate the additional tax and NICs your personal service company may need to pay.

VAT thresholds and tax rates

The VAT registration threshold in 2012-13 is £77,000 and the deregistration threshold £75,000. You can find details of historic VAT registration and deregistration thresholds by visiting the HMRC website.

The standard rate of VAT has been 20 per cent since 4 January 2011. Reduced-rate supplies are taxed at 5 per cent and zero-rated goods at 0 per cent.

You can deal with VAT on road fuel by paying the appropriate scale charge. Find fuel scale charges by visiting the HMRC website.

Smaller businesses can simplify their VAT with special accounting schemes. The turnover limits are:

• Annual accounting scheme: registration is allowed provided your estimated VAT taxable turnover for the next year is no more than £1.35 million; businesses using the scheme can do so until their estimated turnover exceeds £1.6 million.
• Cash accounting scheme: registration limit £1.35 million; deregistration £1.6 million.
• Flat rate accounting scheme: registration limit £150,000; deregistration £230,000.
• Different retail schemes and margin schemes for traders in second-hand goods are also available, depending on your turnover. Take advice on what best suits your circumstances.

Capital Gains tax rates and allowances

Find details of capital gains tax rates and allowances for personal assets and capital gains made by the self-employed by visiting the HMRC website.

On the HMRC website you can also find details of indexation allowances to reduce chargeable gains made by companies.

Business rates and stamp duty

Find current and historic business rate multipliers by visiting the Valuation Office Agency website.

Find details of stamp duty land tax (SDLT) rates and thresholds by visiting the HMRC website.

Use the HMRC SDLT calculators.