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Tax Table

We can work with you to ensure your vision of where you want your business to go is communicated in a professional format.

  2020/21 2021/22
Taxable Profits:
First £300,000 19% 19%
Over £300,000 19% 19%
  2020/21 2021/22
Starting rate for savings: 0% £0 - £5,000 £0 - £5,000
Basic rate: 20% £0 to £37,500 £0 to £37,700
Higher rate: 40% £37,501 to £150,000 £37,701 to £150,000
Additional Rate: 45% £150,001 + £150,001 +
  2020/21 2021/22
Basic rate taxpayers 7.5% 7.5%
Higher rate taxpayers 32.5% 32.5%
Additional rate taxpayers 45% 38.1% 38.1%
  2020/21 2021/2022
Personal Allowance £12,500 £12,570
Income Limit for Personal Allowance £100,000 £100,000
Marriage Allowance Up to £1,250 Up to £1,260
Income Limit for Marriage Allowance £30,200 £30,400
Dividend Allowance £2,000 £2,000
Personal Savings Allowance £1,000 £1,000
Classes Who Pays
Class 1 Employees earning more than £170 a week and under State Pension age - they’re automatically deducted by your employer
Class 1A or 1B Employers pay these directly on their employee’s expenses or benefits
Class 2 Self-employed people - you don’t have to pay if you earn less than £6,515 a year (but you can choose to pay voluntary contributions)
Class 3 Voluntary contributions - you can pay them to fill or avoid gaps in your National Insurance record
Class 3A Voluntary contribution - you may be able to top up your pension with a single lump sum if you’re due to retire before 6 April 2016
Class 4 Class 4

 

Self-employed earning rate 2020/21 2021/22
Self-employed Class 4 NI at basic rate 9% 9%
Self-employed Class 4 Ni at additional rate 2% 2%
  2020/21 2021/22
Annual exempt amount £12,300 for individuals £12,300 for individuals
Standard CGT rate 10% on residentials property, 10% on other assets 10% on residentials property, 10% on other assets
Higher CGT rate 28% on residentials property, 20% on other assets 28% on residentials property, 20% on other assets
  2020/21 £(GBP) 2021/22 £(GBP)
Annual Turnover LimitThreshold (Nil Rate Band)s 325,000 325,000
Rates of Inheritance Tax    
Up to NRB 0% 0%
Chargeable lifetime gifts where in excess of the NRB 20% 20%
On death where in excess of the NRB 40% 40%
Exemptions    
Total annual gifts (for each donor)* 3,000 3,000
Small gifts (for each donee) 250 250
Gifts made from surplus income Unlimited Unlimited
In consideration of marriage    
Gift by a parent 5,000 5,000
Gift by a grandparent 2,500 2,500
Gift by any other person 1,000 1,000
  2020/21 2021/22
Rates of tax    
Standard rate 20% 20%
Reduced rate (including fuel and power) 5% 5%
VAT as a fraction of gross price 1/6 1/6
  2020/21 2021/22
Annual Turnover Limits    
Registration £85,000 £85,000
Deregistration £83,000 £83,000

Affordable Pay-monthly Packages

We offer a full range of services to limited companies, solo trader, partnership, charity, LLP, CIC as well as individuals. We have arranged our services into easy to choose packages that suit your needs.

Start-up
£ 50  / Month (+VAT)

This price plan is suitable for the start-up companies who are not VAT registered.

  • Year-end accounts preparation and submission
  • Corporation Tax returns
  • Payroll & RTI submission for 1 employee
  • Personal tax return [salary & dividends income only] (Free)*
  • File confirmation statement (annual return) with Companies House
  • Reference letters for Director only (Free)*
  • Assisting with correspondence from HMRC and Companies House
  • Unlimited face to face advice and email support
  • 1 Director
  • 1 Shareholder
  • Annual turnover should be less than 80K
Limited Company
£ 100  / Month (+VAT)

This price plan is suitable for the companies who are VAT registered and turnover is less than 100K with a couple of employees.

  • Year-end accounts preparation and submission
  • Corporation Tax returns
  • Monthly payroll including RTI submission for up to 2 employees
  • Personal tax return [salary & dividends income only] (Free)*
  • File confirmation statement (annual return) with Companies House
  • Reference letters for Director only (Free)*
  • MTD VAT returns submissions – quarterly
  • Unlimited face to face advice and email support
  • 1 Director
  • 1 Shareholder
  • Annual turnover should be less than 100K
Company Pro
£ 150  / Month (+VAT)

This price plan is suitable for the companies who are VAT registered; turnovers are more than 100K and have 2 directors and shareholders.

  • Company formation (if required)
  • Year-end accounts preparation and submission
  • Corporation Tax returns
  • Monthly payroll including RTI submission for up to 5 employees (Free)
  • MTD VAT returns submissions – quarterly
  • Personal tax return [salary & dividends income only] (Free)*
  • File confirmation statement (annual return) with Companies House
  • Reference letters for Director only (Free)*
  • Unlimited face to face advice and email support
  • 2 Directors
  • 2 Shareholders
  • Annual turnover should be less than 200K
Company Premium
Let's talk.  / 

This bespoke price plan is suitable for the companies who are VAT registered, with more directors, shareholders and employees. Also, annual turnover is more than 200k and requires further bespoke services.

  • Company formation
  • Year-end accounts preparation and submission
  • Corporation Tax returns
  • Monthly payroll including RTI submission all employees
  • MTD VAT returns submissions – quarterly
  • Personal tax return [salary & dividends income only] (Free)*
  • File confirmation statement (annual return) with Companies House
  • Reference letters for the all Directors (Free)*
  • Unlimited face to face advice and email support
  • Flexible and can be discussed
  • Annual turnover should be more than 200K

Add on Services

  1. Personal Tax Returns

    This price plan is suitable for self-employed individuals, landlords and those who need to submit Self-Assessment Tax Returns.

    If you need to submit the Self-Assessment Tax Return, we can offer you competitive prices starting from £150 + VAT. Price can vary according to your nature of income. Please contact us for more details.

  2. Tax Investigation
  3. Business Legal Support
  4. Company Formation
  5. Business Mentoring
  6. ARA accounting services for ATOL & ABTA travel companies

    Our commitment to you is that we’ll ensure all the information we’ve submitted to the Civil Aviation Authority is up-to-date and accurate. 

Taxcare Accountancy was formed to provide Small & Medium Businesses with an affordable, proactive and professional accountancy services…