TG&Co

Chartered Accountants

Principals:
Patricia Grant Bcom CA
Stephen Grant Bcom CA
Marita Scott BA(Hons) CA

Phone: 01786 430830

Business tax


Technical Reference

Capital allowances
Equipment & fixtures 100% allowance on first £200,000pa
WDA 18% (8% on integral fixtures)
Motor cars FYA 100% (<=50g/km) WDA 8 / 18% (<=110gm/km)
Cars and Fuel
Car benefit Petrol Diesel
CO2 emission:- up to 50g/km 13% 17%
51-75g/km 16% 20%
76-94g/km 19% 23%
For every additional 5 grams +1% +1%
Maximum 37% 37%
Vans (inc pickups) £3,350 £3,350
Car fuel benefit
Car benefit percentage times £23,400 £23,400
Class 1a NIC 13.8% 13.8%
Vans £633 £633

VAT scale charges
VAT scale charges are based on the CO2 emissions of the vehicle.

Inland Revenue Authorised Mileage Rates
10,000 miles Additional
Cars 45p 25p
Motor cycles 24 24
Bicycles 20 20
Value Added Tax
Rates Annual limits £
Standard 20% Registration 85,000
Reduced 5% Flat-rate schemes 150,000
Sick Pay/Maternity Pay(SSP/SMP)
17 / 18 18 / 19
SSP Standard rate 88.35 92.05
SMP/SPP Std rate 140.98 145.18
Higher rate (SMP) 90% 90%
Small employers pa £45,000 £45,000
SMP compensation 3% 3%
Corporation Tax
17 / 18 18 / 19
All profits 19% 19%

HMRC

“The difference between tax avoidance and tax evasion is the thickness of a prison wall.” - Denis Healey