Tel: 0781 1155 746

Email: info@tdaccounting.co.uk

useful information

Web Links

HM Revenue & Customs
The Pensions Regulator
Acas - Employment Law Help

National Minimum Wage and National Living Wage Rates from 1st April 2021

£8.91 per hour - 23 yrs old and over
£8.36 per hour - 21-22 yrs old
£6.56 per hour - 18-20 yrs old
£4.62 per hour - 16-17 yrs old
£4.30 for apprentices under 19 or 19 or over who are in the first year of apprenticeship.

Personal Tax Rates 2021/22 from 6th April 2021

Personal Allowance -you can earn this amount tax free £12,570
Basic Rate Tax 20% - charged on taxable income up to £37,700
Higher Rate Tax 40% - charged on taxable income between £37,700.01 to £150,000
Additional Rate Tax 45% - charged on taxable income above £150,001
Dividend Allowance - you can earn £2,000 in dividends tax free
Dividend Ordinary Rate - 7.5% for basic rate tax payers above the allowance
For more information on Tax and National Insurance Rates click here

Value Added Tax (VAT) 2021/22

The standard UK rate of VAT is 20%
The lower UK rate of VAT is 5%
Registration threshold from 1st April 2021 - £85,000
Deregistration threshold from 1st April 2021 - £83,000
Click here for more information on VAT

Company Taxation 2020/2021

Corporation Tax (FY2020 19%)

Capital Gains Tax 2021/22

Standard Rate - 10%
Higher Rate - 18% and 20% depending on the disposal
Entrepreneurs' Relief Rate - 10%

Inheritance Tax 2021/22

Nil Rate Band - £325,000
Rate of Tax on excess - 40%

Useful PDF's

New Employee Starter Check List
Construction Industry Scheme (CIS) Payments and Deductions Statement

Memberships and Associates:

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