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UK tax rates.
Starting Rate upto £1,960 = 10%
Basic Rate - £1,960- £30,000 = 22%
Higher Rate - £30,000 and over = 40%
NI Contributions
Primary Class 1 on earnings between £89-£595 11% PER WEEK.
Additional 1% on higher earnings.
Corporation Tax (LTD Company etc)
Turnover £50,001 - £ 300,000 = 19%
Turnover £1,500,001 or more = 30%
VAT Rate - 17.5%
Inheritience Tax:-
Estates over £250,000 = 40%
Capital Gains Tax
below the starting rate limit at 10%,
between the starting rate and basic rate limits at 20%,
and above the basic rate limit at 40%.
Savings Tax
The 10% starting rate of Income Tax includes savings income. Where an individual has savings income in excess of the starting rate limit they will be taxed at the lower rate of 20% up to the basic rate limit (£29,400 - 2001-02 and £29,900 - 2002-03) and at the higher rate of 40% for income above the basic rate limit.
The rates of tax for dividends are 10% for income up to the basic rate limit and 32.5% for income above the basic rate limit.
Car Tax
Engine Under 1549cc - £110.00 per year
Engine Over 1549cc - £165.00
Petrol/Gas
72.8% is added to fuel
Cigarettes
79% is added to the price of a pack of cigs
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