Tax Table | Income tax bands - Doshi Accountants

Tax Tables

INCOME TAX

Band	2024-25			2025-26
Band	Taxable Income	Rate %	Dividend Rate %	Taxable Income	Rate %	Dividend Rate %
Basic rate	£ 0 to £ 37,700	20.0% *	8.75%	£ 0 to £ 37,700	20.0% *	8.75%
Higher rate	£ 37,701 to £ 125,140	40.0%	33.75%	£ 37,701 to £ 125,140	40.0%	33.75%
Additional rate	Over £ 125,141	45.0%	39.35%	Over £ 125,141	45.0%	39.35%
Personal Savings Allowance (PSA) **
Basic rate taxpayer	£ 1,000			£ 1,000
Higher rate taxpayer	£ 500			£ 500
Additional rate taxpayer	Nil			Nil
Certain trusts taxed at 45% (39.35% on dividend income).
* Savings income of up to £ 5,000 taxable at 0% in certain circumstances. ** Personal saving allowance utilise the basic and higher rate bands.

Allowances		2024-25	2025-26
Dividend Allowance (DA)		£ 500	£ 500
Personal Allowance (PA)	(A,B)	£ 12,570	£ 12,570
Marriage Allowance	(B,C)	£ 1,260	£ 1,260
Blind Person’s Allowance	(B)	£ 3,070	£ 3,130
Rent a room relief (maximum)		£ 7,500	£ 7,500
Trading Income Allowance	(D)	£ 1,000	£ 1,000
Property Income Allowance	(D)	£ 1,000	£ 1,000
(A) Reduced by £1 for every £2 of income over £100,000. (B) Non-residents may not be entitled to personal allowances in certain circumstances. (C) Transferable marriage/civil partnership allowance applies to recipient taxpayers who are not liable to income tax at the higher or additional rate or Scottish income tax at the higher, advanced or top rate. (D) If gross income exceeds £1,000, a deduction of £1,000 instead of actual expenses is permitted.
High Income Child Benefit Charge: 1% of benefit per £ 200 of adjusted net income between £ 60,000 and £ 80,000

NATIONAL INSURANCE CONTRIBUTIONS

Class 1 (Employees)	2025-26
Class 1 (Employees)	Employee	Employer
Main NIC rate	8%	15%
No NICs for employees generally on the first	£ 242 pw	£ 96 pw
No NICs for younger employees* on the first	£ 242 pw	£ 967 pw
NICs rate charged up to	£ 967 pw	no limit
2% NICs on earnings over	£ 967 pw	N/A
* No employer NICs on the first £967 pw for employees generally under 21 years, apprentices under 25 years and veterans in first 12 months of civilian employment. No employer NICs on the first £481 pw for employees at freeports and investment zones in Great Britain in the first 36 months of employment

Employment Allowance		£ 10,500
Per business – not available if sole employee is a director

Class 1A Employer
On most employees’ and directors’ taxable benefits		15%

Class 2 (Self-employed)
Flat rate (if earnings exceed £ 6,845)		£ 3.50 pw
Small profits threshold		£ 6,845

Class 3 (Voluntary)
Class 3: Flat rate per week		£ 17.75

Class 4 (Self-employed)
On profits between £12,570 and £50,270		6%
On profits over £50,270		2%

CAPITAL GAINS TAX

Details	2024-25	2025-26
Annual exempt amount
Individuals	£ 3,000	£ 3,000
Trusts	£ 1,500 (A)	£ 1,500 (A)
Tax rate
Basic rate taxpayers	18%	18%
Higher rate taxpayers	24% (B)	24% (B)
Trustees	24% (B)	24% (B)
Business Asset Disposal (capped at 1 million). You can claim a total of £1 million in Business Asset Disposal Relief over your lifetime.	10%	14%
Rate where business asset disposal/investors' relief applies	10%	14% (C)

(A) Exempt amount subject to related trusts rules. (B) The capital gains tax rate for gains on carried interest is 28% for higher and additional rate taxpayers, trusts and personal representatives. The capital gains tax rate for gains on carried interest is 32% in 2025–26 for all taxpayers. (C) Increasing to 18% from 6 April 2026.

CORPORATION TAX

Year to		2024-25	2025-26
Corporation Tax (Main rate)	(A,C)	25.00%	25.00%
Corporation Tax (Small profits rate)	(B,C)	19.00%	19.00%

Loans to participators		33.75%	33.75%
Corporation tax on restitution interest payments	(D)	45%	45%
Diverted profits tax	(E)	31%	31%

(A) Applies to companies with taxable profits exceeding £250,000 (reduced proportionately for the number of associated companies) and taxable profits of certain investment companies beneath £250,000. (B) Applies to companies with taxable profits beneath £50,000 (reduced proportionately for the number of associated companies) except taxable profits of certain investment companies. (C) Marginal relief applies for profits between £50,000 and £250,000, with thresholds reduced proportionately for the number of associated companies. (D) Withheld at source. (E) Applies to profits of large entities diverted from the UK as a result of an avoided permanent establishment or transactions that lack economic substance (55% for such profits of entities subject to ring fence corporation tax).

VALUE ADDED TAX

Details	2025-26
Standard rate	20%
Reduced rate	5%
Taxable Turnover Limits
Annual turnover threshold for registration	£ 90,000 per annum
Annual turnover limit for deregistration	£ 88,000 per annum
Flat Rate Scheme (FRS)
Flat rate scheme turnover limit	£ 150,000
Cash accounting and Annual accounting schemes
Annual taxable turnover to enter scheme	Up to £ 1.35m
Must leave scheme if annual taxable turnover	Exceeds £ 1.60m

BASIC STATE PENSION

State pension (per week)	2024 – 25	2025 – 26
Basic State Pension	£ 169.50	£ 176.45
New State Pension *	£ 221.20	£ 230.25
* for those reaching State Pension age on or after 6 April 2016

CAR BENEFIT FOR EMPLOYEES

Taxable benefit: List price of car multiplied by chargeable percentage.

CO2 g/km	Electric Range miles	2024-25	2025-26
CO2 g/km	Electric Range miles	0	N/A	2%	3%
1-50	>130	2%	3%
1-50	70-129	5%	6%
1-50	40-69	8%	9%
1-50	30-39	12%	13%
1-50	<30	14%	15%
51-54	N/A	15%	16%
Then a further 1% for each 5g/km CO2 emissions, up to a maximum of 37%.
Diesel cars that are not RDE2 standard suffer a 4% supplement on the above figures but are still capped at 37%.

FUEL BENEFIT

FUEL BENEFIT	2024-25	2025-26

Multiply the CO2% used for the car benefit by	£ 27,800	£ 28,200
Vans – Fixed charge	£ 3,960	£ 4,020
Vans – Fuel benefit (if fuel is provided by the employer for private travel)	£ 757	£ 769
Zero-emission vans charged	£ 0	£ 0
Employee contributions do not reduce taxable figure unless all private fuel is paid for by the employee (in which case there is no benefit charge).

The Child Trust Fund (CTF) is a long-term tax-free savings account for children born between 1 September 2002 and 2 January 2011.
The money in the CTF account belongs to the child but can’t be taken out until they are 18.
Parents, family and friends can add money to the account up to a limit of £9,000 in the 2024 to 2025 tax year.

You can’t apply for a new Child Trust Fund because the scheme is now closed. You can apply for a Junior ISA instead.

JUNIOR ISA

You can’t have a Junior ISA as well as a Child Trust Fund. If you want to open a Junior ISA ask the provider to transfer the trust fund into it.
The money in the Junior ISA account belongs to the child. The child can take control of the account when they’re 16 but can’t withdraw until they are 18.

Your child can only have:

1 cash Junior ISA
1 stocks and shares Junior ISA

Anyone (including child) can pay money into a Junior ISA, but the total amount paid in can’t go over £9,000 in the 2024 to 2025 tax year.

COMPANY CARS ADVISORY FUEL RATES

(Effective from 01 December 2024)
for employee private mileage reimbursement or employer reimbursement of business mileage in company cars

Engine Size	Petrol – rate per mile
1400cc or less	12p
1401cc – 2000cc	14p
Over 2000cc	23p
Engine Size	LPG – rate per mile
1400cc or less	11p
1401cc – 2000cc	13p
Over 2000cc	21p
Engine Size	Diesel – rate per mile
1600cc or less	11p
1601cc – 2000cc	13p
Over 2000cc	17p

EMPLOYEE SHARE SCHEMES LIMITS

	2023-24
Share incentive plans
Employer contributions	£3,600
Employer matching	(2:1)
Employee	£1,800

Enterprise management incentive option value	£250,000
Approved share option schemes option value	£30,000
Savings-related share options per month (up to)	£500

INDIVIDUAL SAVINGS ACCOUNT (ISA)

		2024-25	2025-26
Overall limit		£ 20,000	£ 20,000
Lifetime ISA		£ 4,000	£ 4,000
Junior ISA		£ 9,000	£ 9,000
	Relief
EIS	30%	£ 2,000,000	£ 2,000,000
Seed EIS (SEIS)	50%	£ 200,000	£ 200,000
Venture Capital Trust (VCT)	30%	£ 200,000	£ 200,000

INHERITANCE TAX

Description		2024-25		2025-26
Nil rate band (NRB)	(1)	£325,000		£325,000
NRB Residential enhancement (RNRB)	(2)	£175,000		£175,000
Tax rate on death	(3)	40%		40%
Tax rate on lifetime transfers to most trusts		20%		20%
(1) Up to 100% of the proportion of a deceased spouse’s/civil partner’s unused NRB and RNRB band may be claimed to increment the current NRB and RNRB when the survivor dies. (2) RNRB is available for transfers of a main residence to (broadly) direct descendants. It tapers away at the rate of £1 for every £2 of estate value above £2m. (3) Rate reduced to 36% if at least 10% of the relevant estate is left to charity. Unlimited exemption for transfers between spouses/civil partners, except if UK domiciled transferor and foreign domiciled transferee, where maximum exemption £325,000.
100% Business Property Relief (BPR) for all shareholdings in qualifying unquoted trading companies, qualifying unincorporated trading businesses and certain farmland/buildings.

Reduced tax charge on gifts within 7 years before death
Years before death	0-3	3-4	4-5	5-6	6-7
% of full death tax charge payable	100	80	60	40	20
Annual exemptions for lifetime gifts include £3,000 per donor and £250 per recipient.

MAIN CAPITAL AND OTHER ALLOWANCES

Plant and machinery allowances				Rate
Expenditure 1.4.25 - 31.3.26 (companies only)
First-year allowance (main pool expenditure)				100%
Super-deduction (main pool expenditure)				N/A
First-year allowance (special rate pool expenditure)				50%
Annual Investment Allowance (AIA)
expenditure 1.4.25 - 31.3.26 of up to £1m				100%
New electric vans				100%
Writing down allowance: general pool (reducing balance)				18%
Writing down allowance: special rate pool (reducing balance)				6%
Motor cars purchased
	CO2 (g/km)	CO2 (g/km)	Allowance
New cars only	Nil	up to 50	100%
In general pool	up to 50	up to 110	18%
In special rate pool	above 50	above 110	6%
Structures and buildings allowance
Fixed deduction per annum			3%

MAIN DUE DATES FOR TAX PAYMENT

Payment dates
Self assessment		2024/25	2025/26
1st payment on account	31 January	2025	2026
2nd payment on account	31 July	2025	2026
Balancing payment	31 January	2026	2027
Capital Gains Tax (A)	31 January	2026	2027
(A) A CGT return is due within 60 days of completion of sale of any UK land and buildings by a non-resident and of sale of UK residential property with a tax liability by a UK resident. Any CGT payable is also due within 60 days

Other payment dates		2024/25	2025/26
Class 1A NIC	19 July	2025	2026
Class 1B NIC	19 October	2025	2026

Corporation tax is due 9 months and 1 day from the end of the accounting period, unless a ‘large’ company paying by quarterly instalments.

Filing deadlines		2024/25	2025/26
Issue P60s to employees	31 May	2025	2026
P11D, P11D(b)	6 July	2025	2026
Self Assessment Tax Return (SATR)
Paper version	31 October	2025	2026
Online SATR if outstanding tax to be included in 2024/25 PAYE code (if under £3,000)	30 December	2025	2026
Online SATR	31 January	2026	2027
A CGT return is due within 60 days of completion of sale of UK land and buildings by a non-resident and of sale of UK residential property with a tax liability by a UK resident.

WORKING TAX CREDIT AND CHILD TAX CREDIT

Working Tax Credit for those without Children (£)
Annual income (£)	Single person aged 25 or over working 30 or more hours a week	Couple (working adults aged 25 or over ) working 30 or more hours a week
*11,700	795	2,615
12,000	485	2,495
13,000	75	2,085
14,000	–	1,675
15,000	–	1,265
16,000	–	855
17,000	–	445
18,000	–	35
19,000+	–	–

* Someone aged 25 or over, working 30 hours a week on
National Living Wage (Based on April 2017 rates)
would earn £11,700 a year.

If you are in work and responsible for at least one child
Working and Child Tax Credit (£)
Working and Child Tax Credit (£)
Annual income (£)	One child / Young person	Two children / Young person	Three children / Young person
*(1,2) 6,240*	7,300	10,080	12,865
11,700	5,945	8,725	11,510
15,000	4,595	7,375	10,155
20,000	2,545	5,325	8,105
25,000	495	3,275	6,055
30,000	–	1,225	4,005
35,000	–	–	1,955
40,000+	–	–	–

*1 – Those with incomes of £6,240 a year are assumed to work part-time working between 16 and 29 hours a week).

*2 – In families with an income of £11,700 a year or more, at least one adult is assumed to be working 30 hours or more a week (consistent with a minimum adult living wage of £7.50 (based on April 2016 rates) for those aged 25 and over).

Note: If you have a child with a disability you may be entitled to more.

The maximum amounts may be higher if you are entitled to the disability or childcare elements of Working Tax Credit.

If you do not qualify for working tax credit
Child Tax Credit Only (£)
Child Tax Credit Only (£)
Annual income (£)	One child	Two children	Three children
No income	3,330	6,110	8,890
5,000	3,330	6,110	8,890
8,000	3,330	6,110	8,890
10,000	3,330	6,110	8,890
15,000	3,330	6,110	8,890
20,000	1,730	4,515	7,295
25,000	–	2,465	5,245
30,000	–	415	3,195
35,000	–	–	1,145
40,000	–	–	–

Note: If you have a child with a disability you may be entitled to more.

Using this table, if your income is £15,000 a year and you have 2 children but are not eligible for Working Tax Credit, you could get an annual Child Tax Credit award of £6,110, equivalent to £117.50 a week.

JOBSEEKER ALLOWANCE

Who is eligible for Jobseeker’s Allowance?
To claim Jobseeker’s Allowance you need to be actively looking for work and: # over 18 but below State Pension age # unemployed or working fewer than 16 hours per week # living in England, Scotland or Wales Under 18s: you can’t get Jobseeker’s Allowance, except in special circumstances. Under 20s: you can’t get Jobseeker’s Allowance while you are in education and your parents are receiving Child Benefit for you. Full time students: you can’t usually get Jobseeker’s Allowance until your course has officially finished – check the date with your college or university.
How much will you get paid?
Depending on your circumstances you may be entitled to the following amounts:
Age	Maximum weekly amount (2024-25)	Maximum weekly amount (2025-26)
Under 25	up to £ 71.70	up to £ 72.90
25 or over	up to £ 90.50	up to £ 92.05
Couples (both aged over 18)	up to £ 142.25	up to £ 144.65

REGISTERED PENSIONS

	2024/25	2025/26
Lump sum and death benefit allowance	£ 1,073,100	£ 1,073,100
Lump sum allowance	£ 268,275	£ 268,275
Money purchase annual allowance	£ 10,000	£ 10,000
Annual Allowance (AA)*	£ 60,000	£ 60,000
Annual allowance charge on excess is at applicable tax rate(s) on earnings
* Reduced by £1 for every £2 of adjusted income over £260,000 to a minimum of £10,000, subject to threshold income being over £200,000

STAMP DUTIES

Transfers of property are subject to stamp duty land tax at the following rates (From 1st April 2025):

Residential	Standard Rate (Single)	Buy-to-let (Second home rate)
Value up to to £125,000	0%	5%
*Over £125,000 to £250,000**	2%	7%
Over £250,000 to £925,000	5%	10%
Over £925,000 to £1,500,000	10%	15%
Over £1,500,000**	12%	17%
The calculation of SDLT on purchase of non-residential property was changed from the whole transaction value to the same basis as residential (consideration falling within each band).
Commercial		Tax Rate
Value up to £150,000		0%
Over £150,000 to £250,000		2%
Over £250,000		5%
The rate of stamp duty / stamp duty reserve tax on the transfer of shares and securities is generally payable at 0.5 per cent. If you buy stocks and shares for £1,000 or less you don’t normally have to pay any stamp duty.
New Leases
Duty is charged according to the net present value of all the rental payments over the term of the lease (NPV), with a single rate of 1% on residential NPV’s over £125,000 Duty is charged according to the net present value of all the rental payments over the term of the lease (NPV) at 1% on non-residential NPV’s over £150,000 and this rises to 2% on leases with an NPV greater than £5m. VAT is excluded from treatment as consideration provided the landlord has not opted to charge VAT by the time the lease is granted.
Lease premiums
Duty on premiums is the same as for transfers of land .

TAX-FREE MILEAGE ALLOWANCE

A statutory system of Approved Mileage Allowance Payments (AMAPs) applies for employees using their own vehicles for business journeys, as follows:
Cars and vans:
on the first 10,000 miles in the tax year	45p per mile
on each additional mile above this	25p per mile
Business passengers	5p per mile
Motorcycles	24p per mile
Bicycles	20p per mile

Unless the employee is reimbursed at a rate higher than the AMAP, the payments do not need to be reported on a P11D. If the employer pays less than these rates, it is possible for the employee to claim income tax relief for the shortfall.

Rates of up to 5p per mile, per passenger, are also tax and NICs free when paid for the carriage of fellow employees on the same business trip. This also covers volunteers who drive for hospital car services etc, even though they are not strictly employees.