Edwards Greene Tax Tables Spring 2019

Annual Weekly Single tier pension– where state pension age reached  after 5/4/16 £8,767.20 £168.60 Basic pension – single person * £6,718.40 £129.20 Basic pension – spouse/civil partner * £4,027.40 £77.45 *State pension age reached before 6/4/16   Total Individual Savings Account (ISA) 19/20 18/19  limit excluding JISAs £20,000 £20,000 Lifetime ISA £4,000 £4,000 Help to Buy ISA  (existing savers only from 1/12/19) £1,000 initial and £200 per month Junior ISA (JISA) and Child Trust Fund £4,368 £4,260 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 EIS (SEIS) at 50% £100,000 £100,000 SEIS CGT reinvestment relief 50% 50% *Above £1,000,000 investment must be in knowledge-intensive companies Class 1 Employee Employer NICs rate 12% 13.8% No NICs for employees generally on the first £166 pw £166 pw No NICs for younger employees* on the first £166 pw £962 pw NICs rate charged up to £962 pw No limit 2% NICs on earnings over £962 pw N/A Certain married women 5.85% 13.8% Employment Allowance Per business – not available if sole employee is a director £3,000 Limits and Thresholds Weekly Monthly Annual Lower earnings limit £118 £512 £6,136 Primary threshold £166 £719 £8,632 Secondary threshold £166 £719 £8,632 Upper earnings limit  (and upper secondary thresholds*) £962 £4,167 £50,000 *Employees generally under 21 years and apprentices under 25 years Class 1A Employer On car and fuel benefits and most other taxable benefits  provided to employees and directors 13.8% Class 2 Self-Employed Flat rate £3.00 pw £156.00 pa Self-Employed Small profits threshold:  no compulsory NICs if profits do not exceed £6,365 pa Class 4 Self-Employed On profits £8,632–£50,000 pa 9% Over £50,000 pa 2% Class 3 Flat rate £15.00 pw £780.00 pa Tax Rates – Individuals 19/20 18/19 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 £12,000 £11,700 Trusts generally £6,000 £5,850 Chattels: gain limited to 5 ⁄ 3 rds of proceeds exceeding £6,000 £6,000 Entrepreneurs’ Relief 10% on lifetime limit of £10,000,000 For trading businesses and companies  (minimum 5% participation) held for at least 2 years 1 year NATIONAL INSURANCE CONTRIBUTIONS STATE PENSIONS CAPITAL GAINS TAX TAX INCENTIVISED INVESTMENT