Introduction

Our Tax Rate Centre includes a summary of the most important tax rates and allowances for the tax year 2020/2021.

It is not intended to cover every aspect of this year's tax figures and is designed to act as overview only. No liability is accepted for any action taken or refrained from in consequence of its contents. Advice should always be sought from a professional.

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Income Tax

Band & Rates 2020 / 2021 2019 / 2020
Basic Rate - income up to £37,500 £37,500
Main Basic Rate 20% 20%
Savings Basic Rate 20% 20%
Default Basic Rate 20% 20%
Starting rate for savings income 0% 0%
Starting Rate limit (saving income) £5,000 £5,000
Dividend ordinary rate – for dividends otherwise taxable at the basic rate 7.5% 7.5%
Higher Rate - income over £37,500 £37,500
Main Higher Rate 40% 40%
Savings Higher Rate 40% 40%
Default Higher Rate 40% 40%
Dividend upper rate – for dividends otherwise taxable at the higher rate 32.5% 32.5%
Additional Rate - income over £150,000 £150,000
Main Additional Rate 45% 45%
Savings Additional Rate 45% 45%
Default Additional Rate 45% 45%
Dividend additional rate – for dividends otherwise taxable at the additional rate 38.1% 38.1%
Trustee's Income    
Standard rate on first £1,000 of income which would otherwise be taxable at the special rates for trustees Up to 20%, depends on the type of income Up to 20%, depends on the type of income
Trust Rate 45% 45%
Dividend Trust Rate 38.1% 38.1%

 

Income Tax Allowances 2020 / 2021 2019 / 2020
Personal Allowance £12,500 £12,500
Income limit for Personal Allowance £100,000 £100,000
Income limit for married couples allowance £30,200 £29,600
Maximum Married couple’s allowance for those born before 6 April 1935  £9,075 £8,915
Minimum Married couple’s allowance for those born before 6 April 1935  £3,510 £3,450
Blind persons allowance £2,500 £2,450
Transferrable Marriage Allowance £1,250 £1,250
Dividend Allowance £2,000 £2,000
Personal savings allowance for basic rate taxpayer £1,000 £1,000
Personal savings allowance for higher rate taxpayer £500 £500
National Minimum Wage

Use the National Minimum Wage calculator to check if you’re paying a worker the National Minimum Wage or if you owe them payments from past years. The rates, below, apply from 1 April 2020.

Category of worker Hourly Rate
Aged 25 and above (national living wage rate £8.72
Aged 21 to 24 inclusive £8.20
Aged 18 to 20 inclusive £6.45
Under 18 (but above compulsory school leaving age) £4.55
Apprentices aged under 19 £4.15
Apprentices aged 19 and over, but in the first year of their apprenticeship £4.15
Student Loan Recovery
Rate of threshold Figures to use 2020/2021
Employee earnings threshold for Plan 1 £19,390 per year
£1,615.83 per month
£372.88 per week
Employee earnings threshold for Plan 2 £26,575 per year
£2,214.58 per month
£511.05 per week
Student loan deductions 9%
Employee earnings threshold for Postgraduate Loan £21,000 per year
£1,750 per month
£403.84 per week
Student loan deductions 6%

National Insurance

Class 1 NICs: Employee and Employer rates and thresholds per week 2020 / 2021 2019 / 2020
Weekly Lower Earnings Limit (LEL) £120 £118
Weekly Primary Threshold (PT) £183 £166
Weekly Secondary Threshold (ST) £169 £166
Upper Earnings (UEL) £962 £962
Upper Secondary Threshold for U21’s £962 £962
Apprentice Upper Secondary Threshold (AUST) for under 25s £962 £962
Employment Allowance (per employer) £4,000/year £3,000/year
Employee's (primary) Class 1 contribution rates
Below LEL 0% 0%
LEL - PT 0% 0%
PT - UEL 12% 12%
Above UEL 2% 2%
Maried woman's reduced rate for (primary) Class 1 contribution rates
Weekly earnings from between the PT and UEL 5.85% 5.85%
Weekly earnings from above UEL 2% 2%
Employer's (secondary) Class 1 contribution rates
Below ST 0% 0%
Above ST 13.8% 13.8%
Employer's (secondary) Class 1 contribution rates for employees under 21
Below UST 0% 0%
Above UST 13.8% 13.8%
Employer's (secondary) Class 1 contribution rates for Apprentices under 25
Below AUST 0% 0%
Above AUST 13.8% 13.8%

 

Class 2 NICs: Self-employed rates and thresholds per week 2020 / 2021 2019 / 2020
Small Profits Threshold (SPT) £6,475 £6,365
Annual profits
Below SPT £0/week £0/week
Above SPT £3.05 £3.00
Special Class 2 rate for share fishermen £3.70 £3.65
Special Class 2 rate for volunteer development workers £6.00 £5.90

 

Class 3 NICs: Other rates and thresholds per week 2020 / 2021 2019 / 2020
Voluntary contributions £15.30 £15.00

 

Class 4 NICs: Self-employed rates and thresholds per year 2020 / 2021 2019 / 2020
Lower Profits Limit (LPL) £9,500 £8,632
Upper Profits Limit (UPL) £50,000 £50,000
Below LPL 0% 0%
LPL to UPL 9% 9%
Above UPL 2% 2%

 

Class 1 NICs: Thresholds Week Month Year
Lower earnings limit (LEL) £120 £520 £6,240
Primary Threshold (PT) £183 £792 £9,500
Secondary Threshold (ST) £169 £732 £8,788
Upper Secondary Threshold (under 21) (UST) and Apprentice Upper Secondary Threshold (apprentice under 25) (AUST) £962 £4,167 £50,000
Upper earnings limit (UEL) £962 £4,167 £50,000
Class 1 NICs: rates for employee (primary) contributions
NICs category letter Earnings at or above LEL up to and including PT Earnings above PT up to and including UEL Balance of earnings above UEL
A 0% 12% 2%
B 0% 5.85% 2%
C NIL NIL NIL
H (Apprentice under 25) 0% 12% 2%
J 0% 2% 2%
M (under 21) 0% 12% 2%
Z (under 21 - deferment) 0% 2% 2%
Class 1 NICs: rates for employer (secondary) contributions
NICs deductions should not be made on earnings below the Lower Earnings Limit (LEL).
NICs category letter Earnings at or above LEL up to and including ST Earnings above ST up to and including UEL / UST / AUST Balance of earnings above UEL / UST / AUST
A 0% 13.8% 13.8%
B 0% 13.8% 13.8%
C 0% 13.8% 13.8%
H  (under 25 0% 0% 13.8%
J 0% 13.8% 13.8%
M (under 21) 0% 0% 13.8%
Z  (under 21 deferment) 0% 0% 13.8%

Tax credits, Child Benefit and Guardian's Allowance

Working Tax Credit - £ per year (unless stated) 2020 / 2021 2019 / 2020
Basic element £1,995 £1,960
Couple and lone parent element £2,045 £2,010
30 hour element £825 £810
Disabled worker element £3,220 £3,165
Severe disability element £1,390 £1,365

 

Childcare element of the Working Tax Credit - £ per year (unless stated) 2020 / 2021 2019 / 2020
Maximum eligible cost for one child £175/week £175/week
Maximum eligible cost for two or more children £300/week £300/week
Percentage of eligible costs covered 70% 70%

 

Child Tax Credit - £ per year (unless stated) 2020 / 2021 2019 / 2020
Child Tax Credit Family element £545 £545
Child element £2,830 £2,780
Disabled child element £3,415 £3,355
Severely disabled child element £4,800 £4,715

 

Child Benefit - £ per week 2020 / 2021 2019 / 2020
Eldest/Only Child £21.05 £20.70
Other Children £13.95 £13.70

 

Guardian Allowance - £ per week 2020 / 2021 2019 / 2020
Guardian’s Allowance £17.90 £17.60

 

Income thresholds and withdrawal rates - £ per year (unless stated) 2020 / 2021 2019 / 2020
First income threshold £6,530 £6,420
First withdrawal rate (per cent) 41% 41%
First threshold for those entitled to Child Tax Credit only £16,385 £16,105
Income disregard £2,500 £2,500
Income Fall Disregard £2,500 £2,500

SSP & Maternity Pay

Statutory maternity, paternity and adoption pay
Type of payment or recovery Figures to use 2020/2021
Statutory Maternity Pay (SMP) - weekly rate for first six weeks 90% of the employee's average weekly earnings
Statutory Maternity Pay (SMP) - weekly rate for remaining weeks £151.20 or 90% of the employee's average weekly earnings, whichever is lower
Statutory Paternity Pay (SPP) - weekly rate £151.20 or 90% of the employee's average weekly earnings, whichever is lowe
Statutory Adoption Pay (SAP) - for first 6 weeks 90% of employee's average weekly earnings
Statutory Adoption Pay (SAP) - weekly rate for remaining weeks £151.20 or 90% of the employee's average weekly earnings, whichever is lower
Statutory shared parental pay (ShPP) £151.20 or 90% of the employee’s average weekly earnings, whichever is lower
Statutory Parental Bereavement Pay (SPBP) – weekly rate (applies from 6 April 2020) £151.20 or 90% of the employee’s average weekly earnings, whichever is lower
SMP/SPP/ShPP/SAP - proportion of your payments you can recover from HMRC 92% if your total Class 1 NICs (both employee and employer contributions) are above £45,000 for the previous tax year.

103% if your total Class 1 National Insurance for the previous tax year is £45,000 or lower

Statutory Sick Pay
The same weekly Statutory Sick Pay rate applies to all employees. However, the amount you must actually pay an employee for each day they're off work due to illness (the daily rate) depends on the number of 'qualifying days' they work each week.

 

SSP 2020/2021 Rate of payment or recovery (rounded in brackets)
Standard weekly rate £95.85 (N/A)
Daily rate - employees with 1 qualifying day in the week £95.85 (£95.85)
Daily rate - employees with 2 qualifying days in the week £47.93 (£47.9250)
Daily rate - employees with 3 qualifying days in the week £31.95 (£31.95)
Daily rate - employees with 4 qualifying days in the week £23.97 (£23.9625)
Daily rate - employees with 5 qualifying days in the week £19.17 (£19.17)
Daily rate - employees with 6 qualifying days in the week £15.98 (£15.9750)
Daily rate - employees with 7 qualifying days in the week £13.70 (£13.6928)

Vehicle Benefits

Chargeable on employees earning £8,500 or over (including benefits), and directors.

Car Benefits

The taxable benefit is calculated as a percentage of the list price of the car, on the day before it was first registered, plus certain accessories. This percentage depends upon the rate at which the car emits carbon dioxide (CO2), and the fuel type.

For low emission hybrid cars (below 50gm of CO2 per kilometre), the rate depends on the electric range. 2020/21 rates range from 0% (for an electric range over 130 miles) to 12% (range below 30 miles).

For 2020/21, the rates range from 0% (for cars with zero emissions) up to 37%, with more polluting diesel cars paying an extra 2%. The rates for different emissions depend on whether the car was registered before or after 6 April 2020.

Cars first registered before 6 April 2020
CO2 (g/km) Electric Range (Miles) Appropriate %
0 N/A 0%
1-50 >130 2%
1-50 70-129 5%
1.50 40-69 8%
1-50 30-39 12%
1-50 <30 14%
51-54   15%
55-59   16%
60-64   17%
65-69   18%
70-74   19%
75-79   20%
80-84   21%
85-89   22%
90-94   23%
95-99   24%
CO2 (g/km) Electric Range (miles) Appropriate %
100-104   25%
105-109   26%
110-114   27%
115-119   28%
120-124   29%
125-129   30%
130-134   31%
135-139   32%
140-144   33%
145-149   34%
150-154   35%
155-159   36%
160+   37%
Cars first registered on or after 6 April 2020
CO2 (g/km) Electric Range (Miles) Appropriate %
0 N/A 0%
1-50 >130 0%
1-50 70-129 3%
1.50 40-69 6%
1-50 30-39 10%
1-50 <30 12%
51-54   13%
55-59   14%
60-64   15%
65-69   16%
70-74   17%
75-79   18%
80-84   19%
85-89   20%
90-94   21%
95-99   22%
CO2 (g/km) Electric Range (miles) Appropriate %
100-104   23%
105-109   24%
110-114   25%
115-119   26%
120-124   27%
125-129   28%
130-134   29%
135-139   30%
140-144   31%
145-149   32%
150-154   33%
155-159   34%
160-164   35%
165-169   36%
170+   37%
Diesel

For all cars, drivers must add 4% to their appropriate percentage if the car is propelled solely by diesel (up to a maximum of 37%). Cars that meet the Real Driving Emissions Step 2 (RDE2) standard are exempt from the diesel supplement.

Finding your CO2
To find out how much CO2 your company car emits, you may wish to do one of the following: check the cars V5 Registration Document; contact your Dealer; vist the Vehicle Certification Agency Website;.

To access the HMRC Car & Fuel Benefits Calculator, please click here.

Company cars: advisory fuel rates

These rates apply to all journeys on or after 1 March 2020 until further notice, allowing them to reflect fuel prices more quickly. For one month from the date of change, employers may use either the previous or new current rates, as they choose. Employers may therefore make or require supplementary payments if they so wish, but are under no obligation to do either. Petrol hybrid cars are treated as petrol cars for this purpose. If the employee pays for the full cost of all fuel for private journeys (usually including home to work) there will be no car fuel benefit. In all other cases the full tax charge will be due. The Car fuel benefit charge multiplier for 2020/2021 is £24,500.

 

Engine size Petrol Diesel LPG
1400cc or smaller 12p N/A 8p
1401cc to 2000cc 14p N/A 10p
Bigger than 2000cc 20p N/A 14p
Less than 1600cc N/A 9p N/A
1601cc - 2000cc N/A 11p N/A
Bigger than 2000cc N/A 13p N/A
Advisory electricity rate for fully electric cars

Amount per mile – 4 pence. Electricity is not a fuel for car fuel benefit purposes.

Company vans
The taxable benefit for the unrestricted use of company vans is £3,490 (with no reduction for older vans) plus a further £666 of taxable benefit if fuel is provided by the employer for private travel.
Van and fuel charge Van Fuel Total
Tax (20% taxpayer) £698 £133.20 £831.20
Tax (40% taxpayer) £1,396 £266.40 £1,662.40
Tax (45% taxpayer) £1,570.50 £299.70 £1,870.20
Employer's class 1A NICs £481.62 £91.91 £573.53
Fuel Benefit and Van Benefit charge
Income Tax Allowances 2020 / 2021 2019 / 2020
Car fuel benefit charge multiplier £24,500 £24,100
Van fuel benefit charge £666 £655
Van benefit charge £3,490 £3,430

Mileage Allowances & Road Tax

Employee vehicles: mileage payments for business travel
Type of vehicle Rate per business mile 2020-21
Car For tax purposes: 45p for the first 10,000 business miles in a tax year, then 25p for each subsequent mile.

For NICs purposes:45p for all business miles

Motorcycle 24p for both tax and NICs purposes and for all business miles
Cycle 20p for both tax and NICs purposes and for all business miles
Passenger payments: Cars and Vans
5p per passenger per business mile for carrying fellow employees in a car or van on journeys which are also work journeys for them. Only payments specifically for carrying passengers count and there is no relief if you receive less, or nothing at all.
VED bands and rates for cars first registered on or after 1 April  2018.

Budget 2018 announced that new diesel vehicles registered after 1 April 2018 that do not meet the real driving emission step 2 (RDE2) standard will be charged a supplement on their First Year Rate to the effect of moving up by one VED band.

CO2 emissions (g/km) Standard Rate First Year Rate
0 £0 £0
1-50 £150 £10
51-75 £150 £25
76-90 £150 £110
91-100 £150 £135
101-110 £150 £155
111-130 £150 £175
131-150 £150 £215
151-170 £150 £540
171-190 £150 £870
191-225 £150 £1,305
226-255 £150 £1,850
Over 255 £150 £2,175
VED bands and rates for cars registered on or after March 2001.
VED Band CO2 emissions (g/km) Tax Year 2020 to 2021 Tax Year 2019 to 2020
A Up to 100 £0 £0
B 101-110 £20 £20
C 111-120 £30 £30
D 121-130 £130 £125
E 131-140 £150 £145
F 141-150 £165 £160
G 151-165 £205 £200
H 166-175 £240 £235
I 176-185 £265 £260
J 186-200 £305 £300
K 201-225 £330 £325
L 226-255 £565 £555
M Over 255 £580 £570
2020/2021 Road Tax for cars & vans registered before 1 March 2001
Engine Size 2020 / 2021 2019 / 2020
1549cc and below £165 £160
Above 1549cc £270 £265
2020/2021 Road Tax for vans registered after 1 March 2001
Vehicle registration date 2020 / 2021 2019 / 2020
Early Euro 4 and Euro 5 compliant vans £140 £140
All other vans £265 £260

Pensions

The Basic State Pension applies if you are;
  • a man born before 6 April 1951
  • a woman born before 6 April 1953

The basic State Pension is a regular payment from the government that you can get if you reached State Pension age before 6 April 2016. To get it, you must have paid or been credited with National Insurance contributions. The most you can currently get is £134.25 per week. The basic State Pension increases every year by whichever is the highest of the following:

  • earnings - the average percentage growth in wages (in Great Britain)
  • prices - the percentage growth in prices in the UK as measured by the Consumer Prices Index (CPI)
    2.5%
Basic state pension 2020 / 2021 2019 / 2020
Single person per year £6,981 £6, 718.40
Spouse/civil partner addition per year £4,183.40 £4,027.40
Married couple/civil partnership total per year £11,167 £10,745.80
Maximum age for tax relief 74 74
Minimum age for taking benefits 55 55
Lifetime allowance charge – lump sum paid 55% 55%
Lifetime allowance charge – monies retained 25% 25%
On cumulative benefits exceeding £1,073,100 £1,055,000
Annual allowance £40,000 £40,000
Maximum tax-free lump sum 25% 25%
Money Purchase Annual Allowance £4,000 £4,000
Tapered Annual Allowance (applies when an individual has ‘adjusted income’ over this amount provided the ‘threshold income’ test is met) £240,000 £150,000

 

New State Pension

You’ll be able to claim the new State Pension if you’re:
  • a man born on or after 6 April 1951
  • a woman born on or after 6 April 1953

If you reached State Pension age before 6 April 2016, you’ll get the State Pension under the old rules instead. The earliest you can get the new State Pension is when you reach State Pension age. The most you can currently get is £175.20 per week.

Your National Insurance record

You’ll usually need at least 10 qualifying years on your National Insurance record to get any State Pension. They don’t have to be 10 qualifying years in a row.

This means for 10 years at least one or more of the following applied to you:

  • you were working and paid National Insurance contributions
  • you were getting National Insurance credits for example if you were unemployed, ill or a parent or carer
  • you were paying voluntary National Insurance contributions

If you’ve lived or worked abroad you might still be able to get some new State Pension.

You might also qualify if you’ve paid married women’s or widow’s reduced rate contributions.

Working after State Pension age

You don’t have to stop working when you reach State Pension age but you’ll no longer have to pay National Insurance. You can also request flexible working arrangements.

 

Tax Free Savings Accounts
  Tax year 2020 to 2021 Tax year 2019 to 2020
Individual Savings Account (ISA) subscription limit £20,000, of which £4,000 can be saved into a Lifetime ISA £20,000, of which £4,000 can be saved into a Lifetime ISA
Junior ISA subscription limit £9,000 £4,368
Child Trust Fund (CTF) subscription limit £9,000 £4,368

Capital Gains

Group 2020 / 2021 2019 / 2020
Main rates for individuals 10% / 20% 10% / 20%
Rates for individuals (for gains on residential property not eligible for Private Residence Relief, and carried interest) 18 % / 28% 18 % / 28%
Main rate for trustees and personal representatives 20% 20%
Rate for trustees and personal representatives (for gains on residential property not eligible for Private Residence Relief) 28% 28%
Rate for personal representatives for gains on carried interest 28% 28%
Annual exempt amount (AEA) for individuals and personal representatives £12,300 £12,000
AEA for most trustees £6,150 £6,000
Rate on gains subject to entrepreneurs’ relief 10% 10%
Rate on gains subject to investors’ relief 10% 10%
Business Asset Disposal Relief (previously known as Entrepreneurs’ relief): lifetime limit on gains for entrepreneurs £1,000,000 £10,000,000
Investors’ relief: separate lifetime limit on gains for external investors £10,000,000 £10,000,000

Corporation Tax

Level of profits From 01/04/18 From 01/04/19 From 01/04/20
Main rate 19% 19% 19%
Corporation Tax Allowances & Reliefs
Financial Year 2019 to 2020 Financial Year 2020 to 2021 Financial Year 2021 to 2022
Plant and machinery: main rate expenditure 18% 18% 18%
Plant and machinery: special rate expenditure 6% 6% 6%
Structures and Buildings Allowances(SBA) 2% 3%1 3%
Annual investment allowance (AIA) £1,000,000 £1m / £200,0002 £200,000
First year allowances (e.g. for certain energy-saving/water efficient products) 100% N/A3 N/A
R&D tax credits SME scheme 230% 230% 230%
R&D SME payable credit 14.5% 14.5% 14.5%
R&D Expenditure Credit 12% 13% 13%
Patent Box 10% 10% 10%
Film tax relief 25% 25% 25%
High-end TV tax relief 25% 25% 25%
Videogames tax relief 25% 25% 25%
Open ended investment companies and authorised unit trusts 20% 20% 20%

1. Structures and Building Allowance will be increased from 2% to 3% from April 2020.
2. An Annual Investment Allowance of £1m will apply to investments made from 1 January 2019 until 31 December 2020. The AIA for investments before and after those dates will be £200,000.
3. From 1 April 2020 for incorporated businesses and from 6 April 2020 for unincorporated businesses, environmental enhanced capital allowances will be abolished

Value Added Tax

Vat Rates April 2020/2021 April 2019/2020
Standard Rate 20% 20%
Vat Fraction 1/6 1/6
Reduced Rate 5% 5%

 

Taxable Turnover Limits Amounts
Registration - last 12 months or next 30 days over £85,000 from 1 April 2020
Deregistration - next 12 months under £83,000 from 1 April 2020
Cash accounting scheme - up to £1,350,000
Optional flat rate scheme - up to £150,000
Annual accounting scheme - up to £1,350,000

Inheritance Tax

From 6 April 2020, everyone has an additional xx£150,000 tax-free allowance to use against the value of their home.
Detail 2020/2021 2019/2020
Standard threshold £325,000 £325,000
Residence nil rate band limit £175,000 £150,000
Rate of tax on balance:
Chargeable lifetime transfers 20% 20%
Transfers on, or within 7 years of, death 40% 40%
Reduced Rate 36% 36%
All lifetime transfers not covered by exemptions and made within seven years of death will be added back into the estate for the purpose of calculating the tax payable. Tax attributable to such transfers is then reduced:
Years before death 0 - 3 3 - 4 4 - 5 5 - 6 6 - 7
Tax paid 40% 32% 24% 16% 8%
Main Reliefs
Business Property %
Business or interest therein 100%
Qualifying shareholdings in unquoted* companies 100%

Shares controlling more than 50% of the voting rights in a listed company | Land, buildings or machinery owned by the deceased and used in a business they were a partner in or controlled | Land, buildings or machinery used in the business and held in a trust that it has the right to benefit from
50%
Agricultural property 50% or 100%

* Unquoted companies include those listed on AIM

Main Exemptions
  • Most transfers between spouses and civil partners.
  • The first £3,000 of lifetime transfers in any tax year plus any unused balance from previous year.
  • Gifts of up to but not exceeding £250 p.a. to any number of persons.
  • Gifts in consideration of marriage or civil partnership of: up to £5,000 by a parent, up to £2,500 by a grandparent, or up to £1,000 by any other person.
  • Gifts made out of income that form part of normal expenditure and do not reduce the standard of living.
  • Gifts to charities, whether made during lifetime or on death.
  • From April 2012, a reduced rate of IHT of 36% will be introduced where 10 per cent of more of the net estate is left to charity.

Other Taxes

Stamp Duty Land Tax – Residential Property 
Property Value Rate (on portion of value above threshold) Rate (on portion of value above threshold) on or after 1 April 2016 if purchase is of an additional residential property
0 to £125,000 0% 3%
£125,000 to £250,000 2% 5%
£250,000 to £925,000 5% 8%
£925,000 to £1.5 million 10% 13%
£1.5 million + 12% 15%

Stamp Duty Land Tax – Non-residential Property

Property Value Rate on or after 17 March 2016 (on portion of value above threshold)
0 to £150,000 0%
£150,000 to £250,000 2%
£250,000 + 5%
Net Present value (NPV) of the Lease Rate on or after 17 March 2016 (on portion of value above threshold)
0 to £150,000 0%
£150,000 to £5 million 1%
£5 million + 2%
Stamp Duty Land Tax - rates for first-time buyers purchasing properties worth £500,000 or less
Property Value Rate (on portion of value above threshold) on or after 22 November 2017 if purchase qualifies for first-time buyer relief
0 to £300,000 0%
£300,000 to £500,000 5%
£500,000 + Standard rates above apply
Annual tax on Enveloped Dwellings
Property Value Charge for tax year 2020 to 2021 Charge for tax year 2019 to 2020
More than £500,000 but not more than £1 million £3,700 £3,650
More than £1 million but not more than £2 million £7,500 £7,400
More than £2 million but not more than £5 million £25,200 £24,800
More than £5 million but not more than £10 million £58,850 £57,900
More than £10 million but not more than £20 million £118,050 £116,100
More than £20 million+ £236,250 £232,350

Tax Calendar check if items still valid - dates already changedy

April 2020
5 Last day of 2019/20 tax year.
Deadline for 2019/20 ISAs.
Last day to make disposals using the 2019/20 CGT exemption.
14 Due date for income tax for the CT61 period to 31 March 2020.
19/22 Quarter 4 2019/20 PAYE remittance due.
20 Interest will begin to accrue on unpaid PAYE/NI for 2019/20.
30 Normal annual adjustment for VAT partial exemption calculations (monthly returns).
May 2020
1 Start of daily penalties for 2019 online Tax Return not yet filed. Additional penalties may apply for further delay.
3 Quarterly submission date of P46 (Car) for quarter to 5 April.
31 Last day to issue 2019/20 P60s to employees.
June 2020
30 End of CT61 quarterly period.
July 2020
6 Deadline for submission of Form 42 (transactions in shares and securities).
File P11Ds, P11D(b)s and P9Ds. Issue copies of P11Ds to employees.
14 Due date for income tax for the CT61 period to 30 June 2020.
19/20 Quarter 1 2020/21 PAYE remittance due.
Final date for payment of 2019/20 Class 1A NICs.
31 Second self assessment payment on account for 2019/20.
August 2020
2 Quarterly submission date of P46 (Car) for quarter to 5 July.
September 2020
30 End of CT61 quarterly period.
Last day for UK businesses to reclaim  EC VAT chargeable in 2017.
October 2020
1 Due date for payment of Corporation Tax for period ended 31 December 2019.
5 Individuals/trustees must notify HMRC of new sources of income/chargeability in 2019/20 if a Tax Return has not been received.
14 Due date for income tax for the CT61 quarter to 30 September 2020.
19/22 Quarter 2 2020/21 PAYE remittance due.
31 Last day to file 2020 paper Tax Return.
November 2020
1 £100 penalty if 2020 paper Tax Return not yet filed. Additional penalties may apply for further delay.
2 Quarterly submission date of P46 (Car) for quarter to 5 October.
December 2020
30 Last day for online submission of 2020 Tax Return for HMRC to collect tax through clients’ PAYE code.
31 Last day for non-EC traders to reclaim recoverable UK VAT suffered in the year to 30 June 2020. .
End of CT61 quarterly period.
Filing date for Corporation Tax Return Form CT600 for period ended 31 December 2019.
January 2021
1 Due date for payment of Corporation Tax for period ended 31 March 2020.
14 Due date for income tax for the CT61 quarter to 31 December 2020.
18/22 Quarter 3 2020/21 PAYE remittance due.
31 Capital gains tax payment for 2019/20.
Balancing payment - 2019/20 income tax/Class 4 NICs.
Last day to file the 2020 Tax Return online.
February 2021
1 £100 penalty if 2020 Tax Return not yet filed. Additional penalties may apply for further delay. Interest starts to accrue on 2019/20 tax not yet paid.
2 Quarterly submission date of P46 (Car) for quarter to 5 January.
March 2021
2 Last day to pay any balance of 2019/20 tax and Class 4 NICs to avoid an automatic 5% surcharge.
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 2020.

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