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Savings and Investments PDF Print

 

Individual Savings Accounts (ISAs)

ISAs 2016/17  

Overall investment limit
£15,240
Junior ISA limit
£4,080

 

 

 

 

Notes

  1. Investments in ISAs are free of income tax and capital gains tax.
  2. Those aged 16-17 can invest in a cash ISA, in addition to a Junior ISA.
  3. ISAs allow you to take your money out at any time without losing tax relief and furthermore you are not required to declare income and capital gains from ISA savings.
  4. Transitional rules may apply.
 
Some Useful Rates PDF Print

 

Weekly Benefit
 
2016/17
2015/16
Basic Retirement Pension
Single person
£119.30
£115.95
Couple
£190.80
£185.45
Child Benefit
First eligible child
£20.70
£20.70
Each subsequent child
£13.70
£13.70
Statutory Sick Pay (SSP)
Average weekly earnings £112 or over (2015/16 £112)
£88.45
£88.45
Statutory Maternity Pay (SMP)
90% of average weekly pay
First 6 weeks
First 6 weeks
Lower of £139.58 (2015/16 £139.58) or 90% average weekly earnings
Next 33 weeks
Next 33 weeks
Minimum rate
£100.80
£100.80
Statutory Adoption Pay (SAP)
39 weeks
39 weeks
Statutory Paternity Pay (SPP)*
2 weeks
2 weeks
Both SAP and SPP

Lower of £139.58 (2015/16 £139.58) or 90% average weekly earnings 

 

 

Minimum rate
£100.80
£100.80

*Additional statutory paternity pay (ASPP) has been replaced by shared parental leave. 

 

 

Jobseekers Allowance

Single person (25 or over) 
£73.10
£73.10
Couple (both 18 or over)
£114.85
£114.85
National Minimum Wage
From 1 October 2016
From 1 October 2015
  21 - 24
£6.95
£6.70
18 - 20
£5.55
£5.30
16 and 17
£4.00
£3.87

 

Apprentices* 

£3.40 

£3.30 

*Rate applies to apprentices under 19, or those 19 and over in the first year of apprenticeship.
 
Stamp Taxes PDF Print

 

The rate of stamp duty / stamp duty reserve tax on the transfer of shares and securities is generally payable at 0.5 per cent.

Stamp Duty Land Tax

Transfers of property are subject to stamp duty land tax at the following rates:


Value up to £125,000* Nil
Over £125,000* to £250,000 1%
Over £250,000 to £500,000 3%
Over £500,000 – £1,000,000 ** 4%

Over £1,000,000 ** – £2,000,000 **

5%** 

Over £2,000,000**  

7%** 


* £150,000 for non-residential property and residential property in disadvantaged areas. Special rules apply for new zero-carbon homes.

** Residential property only. A 15% rate will apply to properties over £2,000,000 purchased by certain "non-natural persons".


New Leases

Duty is charged according to the net present value of all the rental payments over the term of the lease (NPV), with a single rate of 1% on residential NPV's over £125,000 and on non-residential NPV's over £150,000.

VAT is excluded from treatment as consideration provided the landlord has not opted to charge VAT by the time the lease is granted.

Lease premiums

Duty on premiums is the same as for transfers of land (except that the zero rate does not apply where rent of over £600 annually is also payable).
 
Tax Calendar PDF Print

 

April 2016
5 Last day of 2015/16 tax year.
Deadline for 2015/16 ISA investments.
Last day to make disposals using the 2015/16 CGT exemption.
14 Due date for income tax for the CT61 period to 31 March 2016.
19/22 Quarter 4 2015/16 PAYE remittance due.
30 Normal annual adjustment for VAT partial exemption calculations (monthly returns).
May 2016
1 Start of daily penalties for 2015 online Tax Return not yet filed. Additional penalties may apply for further delay.
3 Submission date of P46 (Car) for quarter to 5 April.
31 Last day to issue 2015/16 P60s to employees.
June 2016

1 

New advisory fuel rates for users of company cars effective from today.

30

End of CT61 quarterly period.
Annual adjustment for VAT partial exemption calculations (March VAT year end).

July 2016
6 Deadline for submission of Employment Related Securities annual returns
File Taxed Award Scheme Returns, file P11Ds and P11D(b)s. Issue copies of P11Ds to employees.
Deadline for entering into a PAYE Settlement Agreement for 2015/16.
14 Due date for income tax for the CT61 period to 30 June 2016.
19/22 Quarter 1 2016/17 PAYE remittance due.
Final date for payment of 2015/16 Class 1A NICs.
31 Second self assessment payment on account for 2015/16.
Annual adjustment for VAT partial exemption calculations (April VAT year end).
Deadline for tax credit Annual Declaration (if estimated, final figures required by 31/01/17).
August 2016
2 Submission date of P46 (Car) for quarter to 5 July.
31 Annual adjustment for VAT partial exemption calculations (May VAT year end).
September 2016

1 

New advisory fuel rates for users of company cars effective from today. 

30 End of CT61 quarterly period.
Last day for UK businesses to reclaim EC VAT chargeable in 2015.
October 2016
1 Due date for payment of Corporation Tax for period ended 31 December 2015.
5 Individuals/trustees must notify HMRC of new sources of income/chargeability in 2015/16 if a Tax Return has not been received.
14 Due date for income tax for the CT61 quarter to 30 September 2016.
19/22 Quarter 2 2016/17 PAYE remittance due.
31 Deadline for paper submission of 2016 Tax Return without incurring penalties.
November 2016
1 £100 penalty if 2016 paper Tax Return not yet filed. Additional penalties may apply for further delay (no penalties will apply if online return filed by 31 January 2017).
2 Submission date of P46 (Car) for quarter to 5 October.
December 2016

1 

New advisory fuel rates for users of company cars effective from today. 

30 Last day for online submission of 2016 Tax Return where outstanding tax (subject to cap) to be included in 2017/18 PAYE code, where they owe less than £3,000.
31 Last day for non-EU traders to reclaim recoverable UK VAT suffered in the year to 30 June 2016.
End of relevant year for taxable distance supplies to UK for VAT registration purposes.
End of relevant year for cross-border acquisitions of taxable goods in the UK for VAT registration purposes.
End of CT61 quarterly period.
Filing date for Company Tax Return Form CT600 for period ended 31 December 2015.
January 2017
1 Due date for payment of Corporation Tax for period ended 31 March 2016.
14 Due date for income tax for the CT61 quarter to 31 December 2016.
19/21 Quarter 3 2016/17 PAYE remittance due.
31 First self assessment payment on account for 2016/17.
Capital gains tax payment for 2015/16.
Balancing payment – 2015/16 income tax/NICs.
Last day to renew 2016/17 tax credits.
Deadline for amending 2015 Tax Return.
Last day to file the 2016 Tax Return online without incurring penalties.
February 2017
1 £100 penalty if 2016 Tax Return not yet filed. Additional penalties may apply for further delay. Interest starts to accrue on 2015/16 tax not yet paid.
2 Submission date of P46 (Car) for quarter to 5 January.
14 Last date (for practical purposes) to request NIC deferment for 2016/17.
March 2017

1 

New advisory fuel rates for users of company cars effective from today. 

2 

Last day to pay any balance of 2015/16 tax and Class 4 NICs to avoid an automatic 5% late payment penalty. 

31 End of Corporation Tax financial year.
End of CT61 quarterly period.
Filing date for Corporation Tax Return Form CT600 for period ended 31 March 2016.
 
Tax Rates PDF Print

Tax Rates and Allowances information.

  • Income Tax
  • Capital Gains Tax
  • Corporation Tax
  • Main Capital Allowances
  • Value Added Tax
  • Inheritance Tax
  • Vehicle Benefits
  • Mileage Allowances
  • NI Contributions
  • Key Dates & Deadlines
  • Pension Premiums
  • Charitable Giving
  • Savings and Investments
  • Some Useful Rates
  • Stamp Taxes
 
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