Tax & Business Hub
In this section you can quickly access up to date tax and business information which is relevant to individual and corporate taxpayers.
Contents of the Tax & Business Hub
To help you navigate through the wealth of resources available in this section we have broken down the information into the following areas:
Finance Calculators
Our range of simple to use online calculators below will help you to manage your business and keep a track of expenses and tax liabilities.
Key Tax Dates
Use our tax dates section to quickly see when different tax returns need to be filed and payments need to be made.
Key Tax dates – Employers
Task | Period | Deadline | Note |
---|---|---|---|
Task | Period | Deadline | Note |
Employers PAYE/NIC payment and CIS returns & payment due | 05/04/2024 (month) | 19/04/2024* | * Due on 22nd if paid electronically |
Employers PAYE/NIC payment and CIS returns & payment due | 05/05/2024 | 19/05/2024* | * Due on 22nd if paid electronically |
Give each employee a P60 for 2023/24 | 05/04/2024 (year) | 31/05/2024 | |
Changes to advisory fuel rates | 01/06/2024 – 31/08/2024 | 01/06/2024 | Previous rates can be used until 30/06/2024 if desired. |
Employers PAYE/NIC payment and CIS returns & payment due | 05/06/2024 | 19/06/2024* | * Due on 22nd if paid electronically |
PAYE settlement agreement application deadline | 05/04/2024 (year) | 05/07/2024 | |
P11D information for 2023/24 to be given to employees where relevant | 05/04/2024 (year) | 06/07/2024 | |
Deadline for notifying HMRC of shares & share options awarded to employees | 05/04/2024 (year) | 06/07/2024 | |
Deadline for P11D and P11Db forms to be submitted to HMRC. | 05/04/2024 (year) | 06/07/2024 | |
Employers PAYE/NIC payment and CIS returns & payment due | 05/07/2024 | 19/07/2024* | * Due on 22nd if paid electronically |
Class 1A NICs payment due to HMRC | 05/04/2024 (year) | 19/07/2024* | * Due on 22nd if paid electronically |
P46 (car) forms due if there have been company car changes in the period | 06/04/2024 – 05/07/2024 | 02/08/2024 | |
Employers PAYE/NIC payment and CIS returns & payment due | 05/08/2024 | 19/08/2024* | * Due on 22nd if paid electronically |
Changes to advisory fuel rates | 01/09/2024 – 30/11/2024 | 01/09/2024 | Previous rates can be used until 30/09/2024 if desired. |
Employers PAYE/NIC payment and CIS returns & payment due | 05/09/2024 | 19/09/2024* | * Due on 22nd if paid electronically |
Employers PAYE/NIC payment and CIS returns & payment due | 05/10/2024 | 19/10/2024* | * Due on 22nd if paid electronically |
Payment for Class 1B NICs (on PAYE Settlement Agreement ) due to HMRC | 05/04/2024 (year) | 19/10/2024* | * Due on 22nd if paid electronically |
P46 (car) forms due if there have been company car changes in the period | 06/07/2024 – 05/10/2024 | 02/11/2024 | |
Employers PAYE/NIC payment and CIS returns & payment due | 05/11/2024 (month) | 19/11/2024* | * Due on 22nd if paid electronically |
Changes to advisory fuel rates | 01/12/2024 – 28/02/2025 | 01/12/2024 | Previous rates can be used until 31/12/2024 if desired. |
Employers PAYE/NIC payment and CIS returns & payment due | 05/12/2024 (month) | 19/12/2024* | * Due on 22nd if paid electronically |
Employers PAYE/NIC payment and CIS returns & payment due | 05/01/2025 (month) | 19/01/2025* | * Due on 22nd if paid electronically |
P46 (car) forms due if there have been company car changes in the period | 06/10/2024 – 05/01/2025 | 02/02/2025 | |
Employers PAYE/NIC payment and CIS returns & payment due | 05/02/2025 (month) | 19/02/2025* | * Due on 22nd if paid electronically |
Changes to advisory fuel rates | 01/03/2025 – 31/05/2025 | 01/03/2025 | Previous rates can be used until 31/03/2025 if desired. |
Employers PAYE/NIC payment and CIS returns & payment due | 05/03/2025 (month) | 19/03/2025* | * Due on 22nd if paid electronically |
P46 (car) forms due if there have been company car changes in the period | 06/01/2025 – 05/04/2025 | 05/04/2025 | (Deadline is 03/05/2025 if using a printed form) |
Register or de-register for Payrolling Benefits in Kind , if applicable, before the start of the tax year | For the 2025/26 tax year | 05/04/2025 | |
Update employee records and payroll software for new tax year | For the 2025/26 tax year | From 6 April 2025 (or earlier if required by payroll software provider) | |
Note and title above the table | The below shows the upcoming tax payment and filing deadlines that you should be aware of. It isimportant to remain abreast of these deadlines to avoid penalty and interest charges.Calendar of key tax deadlines – Employers |
Key Tax dates – Individuals
Task | Tax Year | Deadline | Note |
---|---|---|---|
Due date for second payment on account for 2023/24 | 2023/24 | 31/07/2024 | |
Deadline for notifying HMRC of chargeability , if not already within Self-Assessment | 2023/24 | 05/10/2024 | |
Paper tax return filing deadline | 2023/24 | 31/10/2024 | |
Online return filing deadline, if you wish for HMRC to collect tax due of up to £3,000 via your 2025/26 tax code | 2023/24 | 30/12/2024 | |
Online return filing deadline payment of tax for 2023/24 and first payment on account for 2024/25 | 2023/24 | 31/01/2025 | |
Due date for second payment on account for 2024/25 | 2024/25 | 31/07/2025 |
Key Tax dates – Corporation Tax CT600
Accounting period end | Corporation tax payment date | CT600 filling date |
---|---|---|
30/04/2023 | 01/02/2024 | 30/04/2024 |
31/05/2023 | 01/03/2024 | 31/05/2024 |
30/06/2023 | 01/04/2024 | 30/06/2024 |
31/07/2023 | 01/05/2024 | 31/07/2024 |
31/08/2023 | 01/06/2024 | 31/08/2024 |
30/09/2023 | 01/07/2024 | 30/09/2024 |
31/10/2023 | 01/08/2024 | 31/10/2024 |
30/11/2023 | 01/09/2024 | 30/11/2024 |
31/12/2023 | 01/10/2024 | 31/12/2024 |
31/01/2024 | 01/11/2024 | 31/01/2025 |
29/02/2024 | 01/12/2024 | 28/02/2025 |
31/03/2024 | 01/01/2025 | 31/03/2025 |
NB – Please talk to us if you prepare financial statements of more or less than 12 months in length or have annual profits in excess of £1.5m. If limited companies pay interest, royalties or similar payments, income tax is deducted from these payments at 20% and is reported to HMRC using form CT61 according to the timetable set out below: |
Key Tax dates – Corporation Tax CT61
Reporting period | CT61 and payment deadline |
---|---|
01/01/2024 – 31/03/2024 | 14/04/2024 |
01/04/2024 – 30/06/2024 | 14/07/2024 |
01/07/2024 – 30/09/2024 | 14/10/2024 |
01/10/2024 – 31/12/2024 | 14/01/2025 |
Key Tax dates – VAT Registered Businesses
Quarterly/monthlyVAT return period end | Return and payment deadline |
---|---|
29/02/2024 | 07/04/2024 |
31/03/2024 | 07/05/2024 |
30/04/2024 | 07/06/2024 |
31/05/2024 | 07/07/2024 |
30/06/2024 | 07/08/2024 |
31/07/2024 | 07/09/2024 |
31/08/2024 | 07/10/2024 |
30/09/2024 | 07/11/2024 |
31/10/2024 | 07/12/2024 |
30/11/2024 | 07/01/2025 |
31/12/2024 | 07/02/2025 |
31/01/2025 | 07/03/2025 |
Different return and payment deadlines apply for those that file annual returns or those that are required to make payments on account. Fuel scale charges are updated each year on 1 May. |
HMRC Links
The following links take you to the relevant pages on the HMRC website where you can download forms and access more information.
Tax Rates and Allowances
Access the latest tax rates and information relating to the different tax areas shown below.
Income Tax
Main allowances | Rate bands | Year to | Year from | General income | Savings income | Dividend income | Notes |
---|---|---|---|---|---|---|---|
Main allowances | Rate bands | 2023/24 | 2024/25 | G | S | D | |
Personal Allowance*† | £12,570 | £12,570 | |||||
Blind Person’s Allowance | £3,070 | £2,870 | |||||
Married Couple’s Allowance (born before 6/4/35) ** | £11,080 | £10,375 | |||||
Income limit for age-related allowances | £37,400 | £36,400 | |||||
Dividend and Savings Allowances | |||||||
Dividend Tax Allowance (DTA) § | £500 | £1,000 | |||||
Personal Savings Allowance (basic rate taxpayer) | £1,000 | £1,000 | |||||
Personal Savings Allowance (higher rate taxpayer) | £500 | £500 | |||||
Basic | 37,700 | 37,700 | 20% | 20% | 8.75% | ||
Higher | 37,701-125,140 | 37,701-125,140 | 40% | 40% | 33.75% | ||
Income Tax Rates And Allowances | Additional | over 125,140 | over 125,140 | 45% | 45% | 39.35% | |
2023/24 and 2024/25 Rates for General, Savings and Dividend income within each band: | *Personal Allowance (PA) will be withdrawn at £1 for every £2 by which ‘adjusted income’ exceeds £100,000. There will therefore be no allowance given if adjusted income is £125,140 (2023/24: £125,140) or more. †Up to 10% of the PA (2024/25: £1,260; 2023/24: £1,260) can be transferred to a spouse or civil partner who is no more than a basic rate taxpayer. **Married Couple’s Allowance is reduced by £1 for every £2 by which adjusted income exceeds the income limit, down to a minimum of £4,280 (2023/24 £4,010) §The DTA taxes the first £500 (2023/24: £1,000) of dividend income at nil rather than the rate that would otherwise apply – see rates below. The Personal Savings Allowance (PSA) operates as a nil rate band for interest income. | ||||||
General income (salary, pensions, business profits, rent) uses Personal Allowance, basic rate, and higher rate bands before savings income (interest). To the extent that savings income falls in the first £5,000 of the basic rate band, it is taxed at nil rather than 20%. The PSA (see above) will tax interest at nil where it would otherwise be taxable at 20% or 40%. Dividends are taxed as the ‘top slice’ of income. |
High Income Child Benefit Charge (HICBC)
Remittance basis charge | Rate bands | Year to | Year from | Notes |
---|---|---|---|---|
Remittance basis charge | Rate bands | 2023/24 | 2024/25 | |
7 of the preceding 9 tax years | £30,000 | £30,000 | ||
12 of the preceding 14 tax years | £60,000 | £60,000 | ||
15 of the preceding 20 tax years | Deemed domiciled | Deemed domiciled | ||
Lifetime allowance (LA) | £1.0731m | £1.0731m | ||
Annual allowance (AA)* | £40,000 | £40,000 | ||
Charge if excess drawn as | Cash 55%/income 25% | Cash 55%/income 25% | ||
AA charge on excess inputs | 20%-45% | 20%-45% | ||
High Income Child Benefit Charge (HICBC) | 1% of child benefit for each £200 of net income between £60,000 and £80,000. Prior to 2024/25 the charge was 1% of child benefit for each £100 of net income between £50,000 and £60,000. | |||
Annual relievable pension inputs are the higher of earnings (capped at AA) or £3,600. *From 2020/21 onwards the AA is reduced by £1 for every £2 by which relevant income exceeds £240,000, down to a minimum AA of £4,000. |
Registered Pension Scheme Limits
Name | Year to | Year from | Notes |
---|---|---|---|
Registered Pension Scheme Limits | 2024/25 | 2023/24 | |
Annual allowance (AA)* | £60,000 | £60,000 | |
AA charge on excess inputs | 20%-45% | 20%-45% | |
Annual relievable pension inputs are the higher of earnings (capped at AA) or £3,600. *The AA is reduced by £1 for every £2 by which relevant income exceeds £260,000 (2023/24: £260,000), down to a minimum AA of £10,000 (2023/24: £10,000) |
Car and Fuel Benefits
CO2 emissions (g/km) | Scale charge | Notes |
---|---|---|
CO2 emissions (g/km) | Scale charge | |
Zero | 2% | |
1-50 – EV range 130 miles or over | 2% | |
1-50 – EV range 70 – 129 miles | 5% | |
1-50 – EV range 40 – 69 miles | 8% | |
1-50 – EV range 30 – 39 miles | 12% | |
1-50 – EV range under 30 miles | 14% | |
51-54 | 15% | |
55-59 | 16% | |
60 and over | Add 1% for every 5g/km Add 4% for diesel cars Subject to 37% maximum |
Cars
Taxable benefit is chargeable value multiplied by a chargeable percentage.
Chargeable value:
Initial list price of car (including most accessories), reduced by any capital contribution (maximum £5,000) by employee when the car is first made available.
Chargeable percentages 2022/23 to 2024/25:
Cars that meet the Real Driving Emissions Step 2 (RDE2) standard are exempt from the diesel supplement.
Fuel provided for private motoring
Where employer provides fuel for private motoring in an employer-owned car, CO2-based percentage from above table multiplied by £27,800 (2023/24 £27,800). Employee contributions for fuel do not reduce taxable figure unless all private fuel is paid for by the employee (in which case there is no benefit charge). Where fuel is provided for private use of company vans there is a flat rate charge of £757 (2023/24 £757).
Company Vans and Commercial Vehicles
Unless private use of a company van is insignificant the taxable benefit for 2024/25 is £3,960 (2023/24 £3,960). Where the van has zero CO2 emissions the benefit is NIL.
2022/23 National Insurance Contributions
Class 1 (Employees) | Class 2 (Self employed) | Employee | Employer | Year to | Year from | Notes |
---|---|---|---|---|---|---|
Class 1 (Employees) | Class 2 (Self employed)* | Employee | Employer | 2024/25 | 2023/24 | |
Main NIC rate | 8% | 13.80% | ||||
Main rate* charged up to | £967pw | no limit | ||||
2% rate on earnings above | £967pw | N/A | ||||
Employment allowance per business | N/A | £5,000 | ||||
Flat rate per week | N/A | £3.15 | ||||
Small profits threshold | £6,725 | £6,725 | ||||
Class 3 (Voluntary) | ||||||
Flat rate per week | £17.45 | £17.45 | ||||
Class 3A | ||||||
Class 4 (Self employed) | ||||||
On profits £12,570 – £50,270 (£11,908 – £50,270) | 6% | 9% | ||||
2024/25 National Insurance Contributions | On profits over £50,270 | 2% | 2% | * For 2024/25, Class 2 NICs are effectively abolished. If your trade profits exceed £6,725, you will accrue entitlement to state benefits. However, if your trade profits fall below the £6,725, you will need to pay Class 2 NICs voluntarily if you need the qualifying year on your NI record for state benefit purposes. | ||
*Nil rate of employer NIC for employees under the age of 21 and apprentices under 25, up to £967pw. For directors the employee NIC threshold for 2023/24 is £12,570 and the annual main NIC rate is 11.5%. Employer contributions (at 13.8%) are also due on most taxable benefits (Class 1A) and on tax paid on an employee’s behalf under a PAYE settlement agreement (Class 1B). |
Capital Gains Tax and Inheritance Tax Rates
Capital Gains Tax | Year to | Year from | Notes |
---|---|---|---|
Capital Gains Tax | 2024/25 | 2023/24 | |
Annual Exempt Amount | £3,000 | £6,000 | |
Annual Exempt Amount for Trustees | £1,500 | £3,000 | |
Basic rate taxpayer | From 30/10/24: 18%, Prior to 31/10/24: 10% | 10% | |
Higher rate taxpayer | From 30/10/24: 24%, Prior to 31/10/24: 20% | 20% | |
Business asset disposals (first £1 million) | 10% | 10% | |
Basic rate taxpayer – residential property | 18% | 18% | |
Higher rate taxpayer – residential propert | 24% | 28% | |
Inheritance Tax | |||
Nil Rate Band | £325,000 | £325,000 | |
Residence Nil Rate Band | £175,000 | £175,000 | |
Taper threshold – Residence Nil Rate Band* | £2,000,000 | £2,000,000 | |
Estate rate | 40% | 40% | |
Chargeable lifetime transfers | 20% | 20% | no text content |
Capital Gains Tax And Inheritance Tax Rates | *Residence Nil Rate reduced by £1 for every £2 that estate exceeds this amount. |
Stamp Duty Land Tax Rates and Bandings
Name | 1st row | 2nd row | Notes |
---|---|---|---|
Stamp Duty Land Tax Rates and Bandings | |||
England and Northern Ireland | |||
Purchases completed on or after 1 April 2022 | |||
Purchase consideration | Rate – on portion above threshold | Rate if second or subsequent property | |
0 to £250,000* | 0% | 5% | |
£250,001 to £925,000 | 5% | 10% | |
£925,001 to £1.5 million | 10% | 15% | |
Over £1.5 million | 12% | 17% | |
Notes | Note – there is a 2% surcharge in addition to the rates above where the purchaser is non-UK resident. *For first-time buyers, where consideration is no more than £625,000, the 0% band is increased to £425,000 and the 5% rate applies to any consideration above £425,000 up to £625,000. | ||
Wales | |||
Purchases completed on or after 10 October 2022 | |||
0 to £225,000 | 0% | ||
£225,001 to £400,000 | 6% | ||
£400,001 to £750,000 | 7.50% | ||
£750,001 to £1.5 million | 10% | ||
Over £1.5 million | 12% | ||
Additional property purchases | |||
0 to £180,000 | 4% | ||
£180,001 to £250,000 | 7.50% | ||
£250,001 to £400,000 | 9% | ||
£400,001 to £750,000 | 11.50% | ||
£750,001 to £1.5 million | 14% | ||
Over £1.5 million | 16% |
Annual Tax on Enveloped Dwellings (ATED) Rates 2022/23
Property value | Year to | Year from | Notes |
---|---|---|---|
Property value | 2024/25 | 2023/24 | |
More than £500,000 up to £1 million | £4,400 | £4,150 | |
More than £1 million up to £2 million | £9,000 | £8,450 | |
More than £2 million up to £5 million | £30,550 | £28,650 | |
More than £5 million up to £10 million | £71,500 | £67,050 | |
More than £10 million up to £20 million | £143,550 | £134,550 | |
More than £20 millions | £287,500 | £269,450 | |
Annual Tax On Enveloped Dwellings (ATED) Rates | The following annual charges apply to certain dwellings owned by companies and other corporate entities: |