Resources

Corporation tax

£ per yearY/E 31.03.2017 (%)Y/E 31.03.2016 (%)Y/E 31.03.2015 (%)
£0 - £300,000202020
£300,001 - £1,500,0002020Marginal relief possible
£1,500,001 or more202021

The upper (£1.5m) and the lower (£300k) limits are divided by the number of associated companies controlled by a person.

 

National Insurance

£ per week (unless stated)

2016-

17

2015-162014-15
Lower earnings limit, primary Class 1£112£112£111
Upper earnings limit, primary Class 1£827£815£805
Primary threshold£155£155£153
Secondary threshold£156£156£153
Employees’ primary Class 1 rate between primary threshold and upper earnings limit

 

12%

12%12%
Employees’ primary Class 1 rate above upper earnings limit2%2%2%
Employees’ contracted-out rebate (for contracted-out salary-related schemes only)

 

N/A

1.4%1.4%
Married women’s reduced rate between primary threshold and upper earnings limit

 

5.85%

5.85%5.85%
Married women’s rate above upper earnings limit2%2%2%
Employers’ secondary Class 1 rate above secondary threshold13.8%13.8%13.8%
Employers’ contracted-out rebate, salary-related schemesN/A3.4%3.4%
Class 2 rate£2.80£2.80£2.75
Class 2 Small Profits Threshold£5,965£5,965-
Class 2 Small earnings exception (per year)--£5,885
Special Class 2 rate for share fishermen£3.45£3.45£3.40
Special Class 2 rate for volunteer development workers£5.60£5.60£5.55
Class 3 rate (per week)£14.10£14.10£13.90
Class 4 lower profits limit (per year)£8,060£8,060£7,956
Class 4 upper profits limit (per year)£43,000£42,385£41,865
Class 4 rate between lower profits limit and upper profits limit9%9%9%
Class 4 rate above upper profits limit2%2%2%

 

Tax credits and benefits

£ per year (unless stated)

 

 

2016-17

2015-162014-15
  
Working Tax Credit 
Basic element£1,960£1,960£1,940
Couple and lone parent element£2,010£2,010£1,990
30 hour element£810£810£800
Disabled worker element£2,970£2,970£2,935
Severe disability element£1,275£1,275£1,255

 

 

 
Childcare element of Working Tax credit 
Maximum eligible cost for one child£175 per week£175 per week£175 per week
Maximum eligible cost for two or more children£300 per week£300 per week£300 per week
Percentage of eligible costs covered70%70%70%
  
Child Tax Credit 
Family element£545£545£545
Child element£2,780£2,780£2,750
Disabled child element£3,140£3,140£3,100
Severely disabled child element£1,275£1,275£1,255
  
Income threshold and withdrawal rates 
Income threshold£6,420£6,420£6,420
Withdrawal rate41%41%41%
Threshold for those entitled to Child Tax Credit only£16,105£16,105£16,010
Income rise disregard£2,500£5,000£5,000
Income fall disregard£2,500£2,500£2,500
    
Child Benefit & Guardian’s allowance rate 
£ per week   
First child20.7020.7020.50
Second and subsequent children (per child)13.7013.7013.55
Guardian’s allowance16.5516.5516.35

Additional information can be found on the HMRC website

 

https://www.gov.uk/government/publications/rates-and-allowances-income-tax/income-tax-rates-and-allowances-current-and-past