Tax Tables – 2022/2023

Tax Tables Autumn 2022

Capital Gains Tax

Tax Rates – Individuals	22/23	21/22
Below UK higher rate income tax band	10%	10%
Within UK higher and additional rate income tax bands	20%	20%
Tax rate – Trusts and Estates	20%	20%
Surcharge for residential property and carried interest	8%	8%
Exemptions
Annual exempt amount: Individuals, estates, etc.	£12,300	£12,300
Trusts generally	£6,150	£6,150
Chattels gain limited to 5/3rds of proceeds exceeding	£6,000	£6,000

Business Asset Disposal Relief
10% on lifetime limit of £1,000,000 for trading businesses and companies (minimum 5% participation) held for at least 2 years

State Pensions

	Annual	Weekly
New state pension – where state pension age reached after 5/4/16	£9,627.80	£185.15
Basic state pension – single person*	£7,376.20	£141.85
Basic state pension – spouse/civil partner*	£4,420.00	£85.00

* State pension age reached before 6/4/16

Car benefits

Taxable amount based on original list price and CO₂ emissions in g/km.

Zero emission cars 2%

Petrol and diesel hybrids with CO₂ emissions 1–50g/km

Range – electric-only miles	< 30	30–39	40–69	70–129	130+
	14%	12%	8%	5%	2%

All non-diesel cars over 50g/km CO₂	51–54	55 & over
	15%	16%*–37%

*Increased for every extra 5g/km by 1% up to the maximum 37%

Diesels not meeting RDE2: add 4% to non-diesel rates, up to 37% maximum.

Fuel Benefit – taxable amount for private use	22/23	21/22
CO₂ % charge used for car benefit multiplied by	£25,300	£24,600

Company Cars – Advisory Fuel Rates

From 1/3/16	Pence per mile
Engine size	Petrol	LPG
1,400cc or less	10p	7p
1,401cc to 2,000cc	12p	8p
Over 2,000cc	19p	13p
From 1/3/16	Pence per mile
Engine size	Diesel
1,600cc or less	8p
1,601cc to 2,000cc	10p
Over 2,000cc	11p
Hybrid cars are treated as either petrol or diesel cars for this purpose.

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Corporation Tax

Years to 31/3/23 and 31/3/22	Profits: 19%	Diverted profits: 25%
Loans to participators	Made in 21/22: 32.5%	Made in 22/23: 33.75%

Fuel benefit

Vans (for private use)

Fuel benefits – taxable amount for private use	20/21	19/20
CO₂ % charge used for car benefit multiplied by	£24,500	£24,100

Income Tax

Main personal allowances and reliefs	22/23	21/22
Personal allowance*	£12,570	£12,570
Marriage/civil partner’s transferable allowance	£1,260	£1,260
Married couple’s/civil partner’s allowance at 10%^† – maximum (if at least one born before 6/4/35) – minimum	£9,415	£9,125
	£3,640	£3,530
Blind person’s allowance	£2,600	£2,520
Rent-a-room relief	£7,500	£7,500
Property allowance	£1,000	£1,000
Trading allowance	£1,000	£1,000

* Personal allowance reduced by £1 for every £2 of adjusted net income over £100,000
† Married couple’s/civil partner’s allowance reduced by £1 for every £2 of adjusted net income over £31,400 (£30,400 for 2021/22), until minimum reached

UK taxpayers excluding Scottish taxpayers’ non-dividend, non-savings income	22/23	21/22
20% basic rate on first slice of taxable income up to	£37,700	£37,700
40% higher rate on next slice of taxable income over	£37,700	£37,700
45% additional rate on taxable income over	£150,000	£150,000

Scottish taxpayers – non-dividend, non-savings income	22/23	21/22
19% starter rate on taxable income up to	£2,162	£2,097
20% basic rate on next slice up to	£13,118	£12,726
21% intermediate rate on next slice up to	£31,092	£31,092
41% higher rate on next slice up to	£150,000	£150,000
46% top rate on income over	£150,000	£150,000

All UK taxpayers
Starting rate at 0% on band of savings income up to**		£5,000	£5,000
Personal savings allowance at 0%: Basic rate Higher rate Additional rate		£1,000 £500 £0	£1,000 £500 £0
Dividend allowance at 0%: All individuals		£2,000	£2,000
Tax rates on dividend income:	Basic rate	8.75%	7.5%
	Higher rate	33.75%	32.5%
	Additional rate	39.35%	38.1%
Trusts: Standard rate band generally		£1,000	£1,000
Rate applicable to trusts: Dividends		39.35%	38.1%
Other income		45%	45%

** Not available if taxable non-savings income exceeds the starting rate band

High Income Child Benefit Charge: 1% of benefit per £100 of adjusted net income between £50,000–£60,000

Non-domicile remittance basis charge after UK residence in at least:	22/23	21/22
7 of the last 9 tax years 12 of the last 14 tax years	£30,000 £60,000	£30,000 £60,000

Inheritance Tax

				22/23		21/22
Nil-rate band*				£325,000		£325,000
Residence nil-rate band*^†				£175,000		£175,000
Rate of tax on excess				40%		40%
Rate if at least 10% of net estate left to charity				36%		36%
Lifetime transfers to and from certain trusts				20%		20%
Overseas domiciled spouse/civil partner exemption				£325,000		£325,000
100% relief: businesses, unlisted/AIM companies, certain farmland/buildings
50% relief: certain other business assets, e.g. farmland let before 1/9/95
Annual exempt gifts of: £3,000 per donor, £250 per donee
Tapered tax charge on lifetime gifts within 7 years of death
Years between gift and death	0–3	3–4	4–5		5–6	6–7
% of death tax charge	100	80	60		40	20

* Up to 100% of the unused proportion of a deceased spouse’s/civil partner’s nil-rate band and/or residence nil-rate band can be claimed on the survivor’s death
† Estates over £2,000,000: the value of the residence nil-rate band is reduced by 50% of the excess over £2,000,000

Main Capital and Other Allowances

Plant & machinery (P&M) 100% annual investment allowance (1st year): To 31/3/23			£1,000,000
P&M* super-deduction first year allowance (FYA) for companies to 31/3/23			130%
Special rate P&M* FYA for companies to 31/3/23			50%
Plant and machinery^**			18%
Patent rights and know-how^**			25%
Special rate P&M e.g. long-life assets and integral features of buildings**			6%
Structures and buildings (straight line)^†			3%
Electric charge points			100%
Motor Cars
CO₂ emissions of g/km:	0*	1–50	Over 50
Capital allowance:	100% first year	18% pa**	6% pa**
New and unused only *Annual reducing balance † 10% for freeport sites in Great Britain

Research and Development
Capital expenditure			100%
Revenue expenditure relief – small/medium-sized companies			230%
Research and development expenditure credit – large companies			13%

Main Due Dates for Tax Payment

Income Tax, NICs and Capital Gains Tax – Self-Assessment
31 Jan in tax year Following 31 July Following 31 Jan	}	Normally 50% of previous year’s income tax (less tax deducted at source) and class 4 NICs Balance of income tax, class 4 NICs, CGT and all class 2 NICs
Inheritance Tax
On death:			Normally 6 months after end of month of death
Lifetime transfer 6 April–30 September:			30 April in following year
Lifetime transfer 1 October–5 April:			6 months after month of transfer
Corporation Tax – Self-Assessment
Profits under £1,500,000: 9 months + 1 day after end of accounting period
Profits £1,500,000 or over: normally payable in 7th, 10th, 13th and 16th months after start of the accounting period Profits £20,000,000 or over: normally payable in 3rd, 6th, 9th and 12th months after start of the accounting period
Growing companies: no instalments where profits are £10,000,000 or less and the company was not a large company for the previous year

2022/23 Tax Calendar

Make the payment on the previous working day where the due date falls on a weekend/bank holiday.

Every month

19 Submit CIS contractors’ monthly return.

22 PAYE/NICs/CIS deductions paid electronically for period ending 5th of the month (19th if not paying electronically).

Month end

Submit CT600 for year ending 12 months previously.

Last day to amend CT600 for year ending 24 months previously.

April 2022

1 VAT rate on hospitality, holiday accommodation and attractions increases from 12.5% to 20%. New VAT points-based penalty regime starts. All voluntarily VAT registered businesses must send VAT returns using MTD software.

6 New NIC rates and dividend tax rates come into force.

July 2022

5 Last date to agree a new PAYE Settlement Agreement (PSA) for 2021/22.

6 The annual NIC primary threshold and lower profits limit increase from ￡9,880 to ￡12,570.

Deadline for employers to return forms P11D (expenses) and P11D (b) (benefits) for 2021/22 to HMRC and provide copies to employees.

22 Pay class 1A NICs (19 July if not paying electronically).

31 Confirm tax credit claims for 2021/22 and renewal for 2022/23. Second payment on account for 2021/22 income tax and class 4 NICs.

August 2022

1 Penalty of 5% of the tax due or £300, whichever is the greater, where the 2020/21 tax return has not been filed.

October 2022

5 Deadline to register for self-assessment for 2021/22.

22 Pay tax and class 1B NICs on PSAs (19th if not paying electronically).

31 Deadline for 2021/22 tax return if filed on paper.

December 2022

30 Deadline to submit 2021/22 tax return online to have underpaid PAYE tax collected through the 2023/24 tax code.

January 2023

31 Submit 2021/22 self-assessment tax return online. Pay balance of 2021/22 income tax, class 4 NICs, CGT and all class 2 NICs, plus first payment on account for 2022/23 income tax and class 4 NICs.

February 2023

1 Initial penalty imposed where the 2021/22 tax return has not been filed or has been filed on paper after 31 October 2022.

March 2023

2 Last day to pay 2021/22 tax to avoid automatic 5% penalty.

National Insurance Contributions

Class 1	Employee	Employer
NICs rate	13.25%	15.05%
No NICs for employees generally on the first	£242 pw^†	£175 pw
No NICs* for: younger/veteran employees on first freeport employees on first	£242 pw^† £242 pw^†	£967 pw £481 pw
NICs rate charged up to	£967 pw	No limit
3.25% NICs on earnings over	£967 pw	N/A
* Employees generally under 21 years and apprentices under 25 years. Veterans in first 12 months of civilian employment. Employees at freeports in Great Britain in the first three years of employment starting from 6 April 2022.

Employment Allowance			£5,000
Per business – not available if sole employee is a director or employer’s NICs for 21/22 £100,000 or more
Limits and thresholds	Weekly	Annual
Lower earnings limit	£123	£6,396
Primary threshold	£242 pw^†	£12,570**
Secondary threshold	£175	£9,100
Upper earnings limit (and upper secondary thresholds)	£967	£50,270

Class 1A Employer On car and fuel benefits and most other taxable benefits provided to employees and directors			15.05%
Class 2 Self-employed	Flat rate per week	£3.15	(£163.80 pa)
	Small profits threshold		£6,725
Class 4 Self-employed On annual profits of		£11,908 to £50,270:	10.25%
		Over £50,270:	3.25%
Class 3 Voluntary flat rate per week		£15.85	(£824.20 pa)

†£190 pw before 6 July 2022
** £9,880 before 6 July 2022

Stamp Duties and Property Transaction Taxes

Stamp Duty and SDRT: Stocks and marketable securities 0.5%

Additional residential and all corporate residential properties
£40,000 or more – add 3% to SDLT rates and 4% to LBTT and LTT rates

England & N Ireland – Stamp Duty Land Tax (SDLT) on slices of value
Residential property	%	Commercial property*	%
Up to £125,000	0	Up to £150,000	0
£125,001–£250,000	2	£150,001–£250,000	2
£250,00–£925,000	5	Over £250,000	5
£925,001–£1,500,000	10
Over £1,500,000	12
0% for freeport qualifying property in England only First time buyers:* 0% on first £300,000 for properties up to £500,000 Non-resident purchasers: 2% surcharge on properties £40,000 or more Residential properties bought by companies etc. over £500,000: 15% of total consideration, subject to certain exemptions

Scotland – Land and Buildings Transaction Tax (LBTT) on slices of value
Residential property	%	Commercial property	%
Up to £145,000	0	Up to £150,000	0
£145,001–£250,000	2	£150,001–£250,000	1
£250,001–£325,000	5	Over £250,000	5
£325,001–£750,000	10
Over £750,000	12
First time buyers: 0% on the first £175,000

Wales – Land Transaction Tax (LTT) on slices of value
Residential property	%	Commercial property	%

Up to £180,000	0	Up to £225,000	0
£180,001–£250,000	3.5	£225,001–£250,000	1
£250,001–£400,000	5	£250,001–£1,000,000	5
£400,001–£750,000	7.5	Over £1,000,000	6
£750,001–£1,500,000	10
Over £1,500,000	12

Registered Pensions

	22/23	21/22
Lifetime allowance	£1,073,100	£1,073,100
Money purchase annual allowance	£4,000	£4,000
Annual allowance*	£40,000	£40,000
Annual allowance charge on excess is at applicable tax rate(s) on earnings
Lifetime allowance charge if excess is drawn as cash 55%; as income 25%
Pension commencement lump sum up to 25% of pension benefit value

* Reduced by £1 for every £2 of adjusted income over £240,000 to a minimum of £4,000, subject to threshold income being over £200,000

Social Security and Other Rates

Weekly rates 2022/23 (taxable unless stated otherwise).

Employment and Support Allowance (contribution-based taxable)
*13-week assessment phase*
Aged under 25: up to £61.05		Aged 25 or over: up to £77.00
*From week 14 after Work Capability Assessment if eligible*
In Work Related Activity Group	up to £107.60
In Support Group	up to £117.60
Bereavement Support Payments (non-taxable) – initial and for 18 months
Higher rate:* £3,500 lump sum	£350 monthly
Standard rate: £2,500 lump sum	£100 monthly
*If entitled to or claiming Child Benefit or pregnant at partner’s death
Statutory Pay Rates Based on minimum average earnings of at least £123 pw:
*Statutory Sick Pay*	£99.35 standard rate
*Statutory Maternity Pay/Statutory Adoption Pay*	First 6 weeks: 90% of average weekly pay Next 33 weeks: 90% average weekly pay up to £156.66
*Statutory Paternity Pay*	90% of average weekly pay up to £156.66
*Shared Parental Pay*	Up to 37 weeks: 90% of average weekly pay up to £156.66
Child Benefit (see ‘Income Tax – High Income Child Benefit Charge’)
Child benefit, first or only child	£21.80
Child benefit, each subsequent child	£14.45
National Living/National Minimum Wage (hourly) 1/4/22 – 31/3/23
Aged 23 and over – National Living Wage	£9.50
Age 21–22 – National Minimum Wage	£9.18
Aged 18–20 – National Minimum Wage	£6.83
Aged under 18 – National Minimum Wage	£4.81
Apprentice – National Minimum Wage	£4.81

Tax-Free Business Mileage Allowance – own vehicle

Cars and vans first 10,000 miles	45p per mile	thereafter 25p per mile
Qualifying passenger	5p per mile
Motorcycles	24p per mile	Bicycles 20p per mile

Tax Incentivised Investments

	22/23	21/22
Total Individual Savings Account (ISA) limit, excluding Junior ISAs (JISAs)	£20,000	£20,000
Lifetime ISA	£4,000	£4,000
JISA and Child Trust Fund	£9,000	£9,000
Venture Capital Trust (VCT) at 30%	£200,000	£200,000
Enterprise Investment Scheme (EIS) at 30%*	£2,000,000	£2,000,000
EIS eligible for CGT deferral relief	No limit	No limit
Seed Enterprise Investment Scheme (SEIS) at 50%	£100,000	£100,000
SEIS CGT reinvestment relief	50%	50%

*Above £1,000,000 investment must be in knowledge-intensive companies

Vans – for Private Use

	22/23	21/22
Zero emission: chargeable amount	Nil	Nil
Other vans: chargeable amount	£3,600	£3,500
Fuel: chargeable amount	£688	£669

Value Added Tax

Standard rate	20%
Domestic fuel	5%
Installation of energy saving materials (except Northern Ireland)	0%
Since 1/4/17: Registration level £85,000	Deregistration £83,000
Flat rate scheme turnover limit	£150,000
Cash and annual accounting schemes turnover limit	£1,350,000