CORPORATION TAX Profits Diverted profits Years to 31/3/23 and 31/3/22 19% 25% Made in 21/22 Made in 22/23 Loans to participators 32.5% 33.75% NATIONAL INSURANCE CONTRIBUTIONS Class 1 Employee – Primary Employer – Secondary* 6/4/22–5/7/22 £190-£967 pw: 12.00% Over £175 pw: 13.80% Over £967 pw: 2.00% 6/7/22–5/11/22 £242-£967 pw: 13.25% Over £175 pw: 15.05% Over £967 pw: 3.25% 6/11/22–5/4/23 £242-£967 pw: 12.00% Over £175 pw: 13.80% Over £967 pw: 2.00% Director – Primary Director – Secondary* 2022/23 £11,908-£50,270 pa: 12.73% Over £9,100 pa: 14.53% Over £50,270 pa: 2.73% *No employer NICs on the first £967pw 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 £481pw for 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. Class 1A Employer On car and fuel benefits and most other taxable benefits provided to employees/directors (pa) 14.53% 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: 9.73% Over £50,270: 2.73% Class 3 Voluntary flat rate per week £15.85 (£824.20 pa) 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 max of 37% Fuel Benefit – taxable amount for private use 22/23 21/22 CO2 % charge used for car benefit multiplied by £25,300 £24,600 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
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