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UK Tax Tables 2017/2018

Tax Rates and Allowances

2016-17 (£) 2017-18 (£) Increase (£)
INCOME TAX ALLOWANCES:
Personal allowance 11,000 11,500 +500
CAPITAL GAINS TAX ANNUAL EXEMPT AMOUNT:
Individuals etc: 11,100 11,300 +200
Inheritance tax threshold 325,000 325,000 -
PENSIONS SCHEMES:
Annual allowance: £40,000 £40,000 -
Lifetime allowance: 1,000,000 1,000,000 -

Taxable Bands

Taxable bands 2016-17 (£) Taxable bands 2017-18 (£)
*Starting rate 0% 0 - 5,000 *Starting rate 0% 0 - 5,000
Basic rate 20% 0 - 32,000 Basic rate 20% 0 - 33,500
Higher rate 40% 32,001 - 150,000 Higher rate 40% 33,501 - 150,000
Additional rate 45% Over 150,000 Additional rate 45% Over 150,000

(*) From 2008-09 there is a starting rate for savings income only. If an individual’s taxable non-savings income exceeds the starting rate limit, then the starting rate for savings will not be available for savings income.

Corporation Tax Rates

Band Corporation tax profits 2016-17 (£) Corporation tax profits 2017-18 (£)
0 - 50,000 19% 19%
50,001 - 250,000 19% 19%
250,001 or more 19% 19%

National Insurance Rates

2016-17 2017-18
Primary threshold £155 per week £157 per week
Secondary threshold £156 per week £157 per week
Employees’ primary class 1 rate on earnings between primary threshold and upper earnings limit 12% of £156.01 to £827 per week 2% above £827 per week 12% of £157.01 to £866 per week 2% above £866 per week
Employers’ secondary Class 1 rate 13.8% on earnings above £156 per week 13.8% on earnings above £157 per week
Class 4 rate 9% of £8,060 to £43,000 per year 2% above £43,000 per year 9% of £8,164 to £45,000 per year 2% above £45,000 per year
Class 4 lower profits limit £8,060 per year £8,164
Class 4 upper profits limit £43,000 per year £45,000

For further rates and allowances and historic tables see HMRC.