| £ per year (unless stated) | 2021-22 | 2020-21 | Change |
|---|---|---|---|
| Personal allowance* | 12,570 | 12,500 | 70 |
| Married couples’/civil partners allowance (born on or before 6 April 1935)** | Transfer of up to £1260 | Transfer of up to £1250 | 10 |
| Minimum married/civil partners allowance | Transfer of up to £1250 | Transfer of up to £1250 | 0 |
*Reduced by £1 for each £2 of income in excess of £100,000. In some cases, non-residents may not be entitled to personal allowance.
**Relief limited to 10%. Reduced to minimum allowance by £1 for every £2 over income limit. Apply personal allowance reduction first.
| £ per year (unless stated) | 2021-22 | 2020-21 | Change |
|---|---|---|---|
| Lower Earnings Limit | 6,240 | 6,240 | 0 |
| Primary Threshold (PT) | 9.568 | 9,500 | 68 |
| Secondary Threshold (ST) | 8.840 | 8,788 | 52 |
| Upper Earnings Limit (UEL) | 50,270 | 50,000 | 270 |
| £ per year (unless stated) | 2021-22 | 2020-21 | Change |
|---|---|---|---|
| Annual Exemption From Capital Gains | 12,300 | 12,300 | 0 |
| Basic Rate (Residential Property) | 18% | 18% | 0 |
| Basic Rate (Other Chargable Assets) | 10% | 10% | 0 |
| Higher Rate (Residential Property) | 28% | 28% | 0 |
| Higher Rate (Other Chargable Assets) | 20% | 20% | 0 |
| Entrepreneurs Relief | 10% | 10% | 0 |
| £ per year (unless stated) | 2021-22 | 2020-21 | Change |
|---|---|---|---|
| Lower Earnings Limit (Non-Residential) | 150,000 | ||
| Lower Earnings Limit (Residential) | 125,0000 | ||
| Primary Threshold (Non-Residental) | Current SDLT Holidays in place | 150,000 | |
| Primary Threshold (Residential) | 125,000 |
*Residential rates may be increased by 3% where further residential properties are acquired.
| £ per year (unless stated) | 2021-22 | 2020-21 | Change |
|---|---|---|---|
| Blind Persons Allowance | 2,520 | 2,500 | 20 |
| £ per year (unless stated) | 2021-22 | 2020-21 | Change |
|---|---|---|---|
| Basic Rate Tax | 20% on income between £12,571 and £50,2701 (you pay tax on £37,700) | 20% on income between £12,501 and £50,000 | |
| Higher Rate Tax | 40% on income between £50,271 and £150,0001 | 40% on income between £50,001 and £150,000 | |
| Additional Rate Tax | 45% on income above £150,001 | 45% on income above £150,000 |
| £ per year (unless stated) | 2021-22 | 2020-21 | Change |
|---|---|---|---|
| Starter Rate (19% Tax Rate) | £12,571 – £14,667 | £12,501 – £14,585 | |
| Basic Rate (20% Tax Rate) | £14,668 – £25,296 | £14,586 – £25,158 | |
| Intermediate (21% Tax Rate) | £25,297 – £43,662 | £25,159 – £43,430 | |
| High Rate (41% Tax Rate) | £43,663 – £150,000 | £43,431 – £150,000 | |
| Additional Rate (46% Tax Rate) | Over £150,000 | Over £150,000 |
| £ per year (unless stated) | 2021-22 | 2020-21 | Change |
|---|---|---|---|
| Corporation Tax Rate | 19% | 19% | 0 |
| £ per year (unless stated) | 2021-22 | 2020-21 | Change |
|---|---|---|---|
| VAT Registration Threshold | 85,000 | 85,000 | 0 |
| £ per year (unless stated) | 2021-22 | 2020-21 | Change |
|---|---|---|---|
| Standard Rate | 20% | 20% | 0 |
| Reduced Rate | 5% | 5% | 0 |
| Zero Rate | 0% | 0% | 0 |
| £ per year (unless stated) | 2021-22 | 2020-21 | Change |
|---|---|---|---|
| Car/Van (First 10,000 Miles) | 0.45 | 0.45 | 0 |
| Car/Van (Over 10,000 Miles) | 0.25 | 0.25 | 0 |
| Motorcycle | 0.24 | 0.24 | 0 |
| Bicycle | 0.20 | 0.20 | 0 |
