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Tax Facts
 
Summer Budget 2010

Introduction

Main Income Tax Reliefs

Income Tax Rates and Bands

Car Benefit Assessment

Tax Free Mileage Allowances

NI Contributions

Pension Contributions

Inheritance Tax

Important Annual Limits

Value Added Tax

Capital Gains Tax

Corporation Tax

Main Capital Allowances

Stamp Duty and SDLT

Payment Dates for Tax

 

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 Value Added Tax


 
Standard rate (7/47 of VAT-inclusive price) 17.5%
Registration level from 1.4.10 £70,000 per annum
Deregistration level from 1.4.10 £68,000 per annum
Standard rate rises to 20% on 4.1.2011 (1/6 of VAT inclusive price).

 
Scale Charges (will change from 4.1.2011)
The scale charges for private use of business fuel are based on the CO2 emissions rating of the car. A different charge will apply for each 5g/km increase between 130g/km and 230g/km (max). For a 3 month period:
120 or less £120.00 net £21.00 VAT
121-134 180.43 net 31.57 VAT
rising by per 5g/km by approx* 12.06 net 2.11 VAT
230 or above 422.13 net 73.87 VAT
* exact figures must be obtained from full table.


email: info@davidcutter.co.uk
Tel: 0121-550-8525   Fax: 0121-585-7341
2 Lyttleton Court | Birmingham Street | Halesowen | West Midlands | B63 3HN
DIRECTORS:     PAUL CUTTER BA(Hons), ACA
  KATE JONES BA(Hons), FCCA, ACA
   
DAVID CUTTER & CO IS A TRADING NAME OF CUTTER & CO LIMITED
COMPANY NUMBER: 07252989
A MEMBER OF THE INSTITUTE OF CHARTERED ACCOUNTANTS IN ENGLAND AND WALES