|
|
Tax year 2010-11 |
Tax year 2011-12 |
|
| Corporation tax | ||
| First £300,000 | 21.0% |
20.0% |
| Next £1,200,000 | 29.75% |
27.5% |
| Over £1,500,000 | 28.0% |
26.0% |
Class 1 (not contracted out) National insurance contributions: |
Employer |
|---|---|
Payable on weekly earnings up to £136 |
0% |
£136.01 and above |
13.8% |
Class 1A on relevant benefits |
13.8% |
Minimum wage
Minimum wages is age related:
• 16/17: £3.64 • 18-20: £4.92 • 21 and over: £5.93
VAT
VAT is charged at 20% (1/6 as a fraction) on relevant goods.
There is a reduced rate of 5% payable on certain goods and services such as electricity.
Capital allowances
There are a range of allowances covering energy saving equipment, Annual Investment Allowances (AIA), write downs and Enterprise Zone Allowances - we will analyse you business to determine how much can be claimed.
Vehicles
The taxable benefit is calculated as a percentage of the car’s UK list price. The calculation begins with the car's CO2 emissions in grams per kilometre and the result is a taxable percentage. Since there are a wide range of exceptions and age related rates we will calculate your individual liability on a case by case basis.
Next step
For a no-obligation quote and meeting please call us on 0151 356 1496.
