Income Tax 

2020/21 
Band 
Personal Allowance 
Basic rate 
Higher rate 
Additional rate 
Taxable Income 
Up to £12,500 
£12,501 to £50,000 
£50,001 to £150,000 
over £150,000 
Rate 
0% 
20% 
40% 
45% 
Savings Income 
(Interest on savings) 
Income below £17,500 
Savings rate - Basic Rate 
Savings rate - Higher rate 
£5,000 
£1,000 
£500 
Dividend income 
Dividend allowance 
Dividend ordinary rate 
Dividend upper rate 
Dividend additional rate 
2020/21 and 2019/20 
£2,000 
7.5% 
32.5% 
38.1% 

Income Tax Reliefs 

 
Personal allowance 
Personal allowance income limit 
6 April 2020 - 5 April 2021 
£12,500 
£100,000 

Individuals Savings Accounts 

 
Overall investment limit 
Junior account investment limit 
2020/21 
£20,000 
£9,000 

Devolved Income Tax 

Scottish rates and bands 
Band name 
Starter Rate 
Scottish Basic Rate 
Intermediate Rate 
Higher Rate 
Top Rate 
Bands 
Over £12,500*-£14,585 
Over £14,585-£25,158 
Over £25,158-£43,430 
Over £43,430-£150,000** 
Over £150,000** 
Rate 
19% 
20% 
21% 
41% 
46% 
* assumes individuals are in receipt of the Standard UK Personal Allowance 
** those earning more than £100,000 will see their Personal Allowance reduced by £1 for every £2 earned over £100,000 
 
Welsh rates and bands 
Band name 
Personal Allowance 
Basic rate 
Higher rate 
Additional rate 
Taxable income 
Up to £12,500 
£12,501-£50,000 
£50,001-£150,000 
Over £150,000 
Tax rate 
0% 
20% 
40% 
45% 

Capital Gains Tax 

Individuals 
Exemption 
Standard rate 
Higher/additional rate 
Trusts 
Exemptions 
Rate 
2020/21 
£12,300 
10% 
20% 
 
£6,150 
20% 
Higher rates (18/28%) may apply to the disposal of certain residential property and carried interest. 
Entrepeneurs' Relief and Investors' Relief 
The first £10m of qualifying gains are charged at 10%. Gains in excess of the limit are charged at the rates detailed above. 

Inheritance Tax 

Lifetime rate 
Nil 
20% 
Estate value thresholds 
0 - £325,000 
Over £325,000 
Death rate 
Nil 
40% 
0 - £325,000 
Over £325,000 

Mileage Allowances 

Current rates of mileage costs  
 
Car / van 
Motorcycle 
Bicycle 
First 10,000 miles 
£0.45 
£0.24 
£0.20 
Over 10,000 miles 
£0.25 
£0.24 
£0.20 

National Insurance 

2020/21 Class 1  
Earnings per week 
Employee 
Up to £183 
£166.01-£962 
Over £962 
Nil 
12 
Employer 
Up to £183 
Over £183 
 
Nil 
13.8 
 
Entitlement to contribution-based benefits for employees retained for earnings between £118 and £166 per week. 
The employer rate is 0% for employees under 21 and apprentices under 25 on earnings up to £962 per week. 
 
Class 1A (employers) 
Class 1B (employers) 
Class 2 (self-employed) 
 
Class 3 (voluntary) 
Class 4 (self-employed) 
13.8% on employee taxable benefits 
13.8% on PAYE Settlement Agreements 
flat rate per week £3.05 
small profits threshold £6,475 per annum 
flat rate per week £15.00 
9% on profits between £9,501 abd /£50,000 plus 2% on profits over £50,000 

Selected Rates 

 
Weekly benefit 
Basic State Pension 
New State Pension 
Statutory Pay Standard Rates 
 
Sick Pay 
Maternity/Adoption Pay 
Shared Parental Pay 
Paternity Pay 
2020/21 
£ 
134.25 
175.20 
 
- average weekly earnings £118 (£116) or over 
94.25 
151.20 
151.20 
151.20 
National Living Wage and National Minimum Wage 
Age 
From 1 April 2019 
NLW 
£8.72 
21-24 
£8.20 
18-20 
£6.45 
16-17 
£4.55 
Apprentices 
£4.15 
Applies to apprentices under 19, or 19 and over in the first year of apprenticeship. NLW applies to those aged 25 and over 

Key Dates and Deadlines 

Payment Dates 
Income Tax and Class 4 NIC 
1st payment on account 
2nd payment on account 
Balancing payment 
Class 2 NIC 
Capital Gains Tax 
Class 1A NIC 
2020/21 
 
31st January 2021 
31st July 2021 
31 January 2022 
31st January 2022 
31st January 2022 
19th July 2021 
Corporation Tax - 9 months and one day after the end of accounting period (quarterly instalments if large company) 
2020/21 Returns Filing Deadlines 
31 May 2020 
6 July 2020 
31 October 2020 
30 December 2020 
 
31 January 2020 
P60s to employees 
P11D and P11D(b) and copies to employees 
Paper Self Assessment Tax Return (SATR) 
SATR Online where outstanding tax (subject to cap) to be included in 2021/22 PAYE code 
SATR Online 

Corporation Tax 

Year to 31.03.21 Rate is 19% 

Value Added Tax 

 
Standard rate 
Reduced rate 
Annual Registration Limit 
Annual Deregistration Limit 
2020/21 
20% 
5% 
£85,000 
£83,000 
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