Tax Writer Taxwriter Ltd
Columnist
Share this content

Essential tax tables 2017-18

10th Mar 2017
Tax Writer Taxwriter Ltd
Columnist
Share this content
tax
iStock_Dutko_tax

This is a summary of the tax rates and thresholds for the main taxes for 2017/18 and the previous five or six tax years.

The tables below include:

  • Income tax rates
  • Personal allowances and reliefs
  • Corporation tax rates
  • Capital gains tax rates and exemptions 
  • National insurance: 
    • class 1- monthly thresholds
    • class 2-rates and thresholds
    • class 3-rates
    • class 4 -rates and thresholds
  • VAT registration and deregistration thresholds

These tables are adapted from Bloomsbury’s Tax Rates and Tables 2017/18, which contains 250 pages of tables covering every UK tax and duty you will need to refer to, as well as HMRC penalty rates,  foreign exchange rates, and statutory payment rates.

Income tax rates

Taxable income

£

Rate

%

Tax

£

Cumulative

£

2017/18

 

 

 

Scottish residents for non-savings, non-dividend income only 

Savings:0–5,000

0-31,500

31,501–150,000

Over 150,000

0

20

40

45

Nil

6,300.00

47,400.00

Nil

6,300.00

53,700.00

2017/18

Savings:0–5,000

0–33,500

33,501–150,000

Over 150,000

 

0

20

40

45

 

Nil

6,700.00

46,600.00

 

Nil

6,700.00

53,300.00

2016/17

Savings:0–5,000

0–32,000

32,001–150,000

Over 150,000

 

0

20

40

45

 

Nil

6,400.00

47,200.00

 

Nil

6,400.00

53,600.00

2015/16

Savings:0–5,000

0–31,785

31,786–150,000

Over 150,000

 

0

20

40

45

 

Nil

6,357.00

47,286.00

 

Nil

6,357.00

53,643.00

2014/15

Savings:0–2,880

0–31,865

31,866–150,000

Over 150,000

 

10

20

40

45

 

288.00

6,373.00

47,254.00

 

288.00

6,373.00

53,627.00

2013/14

Savings:0–2,790

0–32,010

32,011–150,000

Over 150,000

 

10

20

40

45

 

279.00

6402.00

47,196.00

 

279.00

6,402.00

53,598.00

2012/13

Savings:0–2,710

0–34,370

34,371–150,000

Over 150,000

 

10

20

40

50

 

271.00

6,874.00

46,251.60

 

271.00

6,874.00

53,125.60

2011/12

Savings:0–2,560

0–35,000

35,001–150,000

Over 150,000

 

10

20

40

50

 

256.00

7,000.00

46,000.00

 

256.00

7,000.00

53,000.00

Personal allowances and reliefs

 

2017/18

£

2016/17

£

2015/16

£

2014/15

£

2013/14

£

Personal allowance

Age under 65

Born after 5 April 1948

Income limit for personal allowance

 

11,500

 

 

100,000

11,000

 

 

100,000

 

 

10,600

100,000

 

 

10,000

100,000

 

 

9,440

100,000

Age-related allowances

Personal allowance (age 65–74)

Born between 5 April 1938 and 6 April 1948

Personal allowance (age 75 and over)

Born before 6 April 1938

Income limit for age-related  allowances

 

 

 

 

 

 

 

28,000

 

 

 

 

 

 

 

27,700

 

 

10,600

 

 

 

10,660

27,700

 

 

10,500

 

 

 

10,660

27,000

 

 

10,500

 

 

 

10,660

26,100

Married allowances

Marriage (born on/after 6 April1935)

Minimum (born before 6 April 1935)

Maximum (born before 6 April 1935)

 

1,150

 

3,260

8,455

 

1,100

 

3,220

8,355

 

1,060

 

3,220

8,355

 

 

 

3,140

8,165

 

 

 

3,040

7,915

Blind person’s allowance

2,320

2,290

2,290

2,230

2,160

Rent-a-room relief

7,500

7,500

4,250

4,250

4,250

Trading income

1,000

-

-

-

-

Property income

1,000

-

-

-

-

Savings allowance - basic rate

1,000

1,000

-

-

-

Savings allowance - higher rate

500

500

-

-

-

Corporation tax rates

 

Financial year commencing 1 April

 

2020

2019

2018

2017

2016

Main rate

17%

19%

19%

19%

20%

 

2015

2014

2013

2012

2011

Main rate

20%

21%

23%

24%

26%

Small Profits Rate

-

20%

20%

20%

20%

Small Profits Rate can be claimed by qualifying companies with profits not exceeding

-

£300,000

£300,000

£300,000

£300,000

Marginal Relief Lower Limit

-

£300,000

£300,000

£300,000

£300,000

Marginal Relief Upper Limit

-

£1,500,000

£1,500,000

£1,500,000

£1,500,000

Standard fraction

-

1/400

3/400

2/200

3/200

CGT rates and annual exemptions

Tax Year

Annual exempt amount

Tax rate paid by

Individuals, personal representatives (PRs) and trusts for disabled

General trusts

Individuals

within:

Trustees and PRs

 

 

Basic rate band

Higher tax bands

 

£

£

%

%

%

2017/18

residential property & carried interest

11,300

5,650

10

18

20

28

20

28

2016/17

 residential property & carried interest

11,100

5,550

10

18

20

28

20

28

2015/16

11,100

5,550

18

28

28

2014/15

11,000

5,500

18

28

28

2013/14

10,900

5,450

18

28

28

2012/13

10,600

5,300

18

28

28

2011/12

10,600

5,300

18

28

28

NIC rates and thresholds

NIC: Class 1 monthly thresholds

Employee

(primary)

2017/18

£

2016/17

£

2015/16

£

2014/15

£

2013/14

£

2012/13

£

Lower earnings limit (LEL)

490

486

486

481

 

473

 

464

Primary threshold (PT)

680

672

672

663

646

 

634

Upper accrual point (UAP)

N/A

N/A

3,337

3,337

 

3,337

3,337

Upper earnings limit (UEL) and

Upper secondary threshold (UST)

3,750

3,583

3,532

3,489

 

3,454

 

3,540

Employer (secondary threshold)

680

676

676

663

641
 

624
 

NIC: Class 2 rates and threshold

Tax year

Flat rate per week

Share fishermen per week

Volunteer development workers per week

Small earnings exception/profit threshold

£

£

£

£

2017/18

2.85

3.50

5.65

6,025

2016/17

2.80

3.45

5.60

5,965

2015/16

2.80

3.45

5.60

5,965

2014/15

2.75

3.40

5.55

5,885

2013/14

2.70

3.35

5.45

5,725

2012/13

2.65

3.30

5.35

5,595

2011/12

2.50

3.15

5.10

5,315

NIC: Class 3 rates

Tax Year

Weekly Rate
£

2017/18

14.25

2016/17

14.10

2015/16

14.10

2014/15

13.90

2013/14

13.55

2012/13

13.25

2011/12

12.60

NIC: Class 4 rates and thresholds

(SSCBA 1992, ss 15(3) & 15(3ZA))

Tax Year

Main rate

Additional rate

Lower profits limit

Upper profits limit

%

%

£

£

2017/18

9

2

8,164

45,000

2016/17

9

2

8,060

43,000

2015/16

9

2

8,060

42,385

2014/15

9

2

7,956

41,865

2013/14

9

2

7,755

41,450

2012/13

9

2

7,605

42,475

2011/12

9

2

7,225

42,475

VAT

Registration and deregistration limits

 Effective date

 Registration turnover:

£

 Registration exception: turnover not exceeding

£

Deregistration turnover

£

1 April 2017

85,000

83,000

83,000

1 April 2016

83,000

81,000

81,000

1 April 2015

82,000

80,000

80,000

1 April 2014

81,000

79,000

79,000

1 April 2013

79,000

77,000

77,000

1 April 2012

77,000

75,000

75,000

1 April 2011

73,000

71,000

71,000

Replies (1)

Please login or register to join the discussion.

avatar
By MartinLevin
11th Mar 2017 11:31

5 pence increase for Class 2 as from 06.04.17. And then it's only for one year, as it's being abolished at 05.04.18. Really? How much would this yield anyway? What's the point?

Thanks (0)