Bloomsbury’s Tax Rates and Tables 2021/22: Budget Edition

"Tax Rates and Tables contains all the rates, allowances and reliefs introduced by the March 2021 Budget, to take effect for the 2021/22 tax year. This product is intended to be a one-stop reference source to help those dealing with tax issues on a regular basis to quickly find the set of figures they are looking. It is also used an invaluable reference source for students doing professional qualifications. Notes have been added to all tables for clarification. The rates for the devolved territories (Scotland and Wales) are also included as are summaries of the Self-Employed Income Support (SEIS) and Coronavirus Job Retention Scheme (CVJRS) rates introduced by the Government."-- Provided by publisher Essential tables Income tax rates Personal allowances and reliefs Corporation tax rates CGT rates and annual exemptions NIC rates and thresholds Key Tax Dates 1. Personal taxation Rates of income tax Tax rates for savings income Tax rates for dividend income Trust rates Personal allowances and reliefs High income child benefit charge (HICBC) Statutory Residence Test (SRT) Remittance Basis Charge (RBC) Cap on income tax reliefs Self-assessment tax returns Assessments, claims and elections 2. Expenses and benefits Company car benefit charges Travel and subsistence Mobile phones Childcare Health related benefits Home working allowance Relocation expenses Termination payments Scholarships Employment related loans Flat rate allowances 3. Payroll matters Real Time Information (RTI) PAYE Penalties Recovery of tax debts through PAYE Auto-enrolment for a workplace pension Apprenticeship levy Student Loans Construction Industry Scheme (CIS) Coronavirus Job Retention Scheme (CJRS) 4. Shares and share options Administration Enterprise Management Incentives (EMI) Share Incentive Plan (SIP) Company Share Option Plan (CSOP) Save as you earn (SAYE) Employee shareholder shares 5. Pensions and investments Pension contributions Pension withdrawals Protected retirement ages Individual Saving Accounts (ISA) Investments by parents Enterprise Investment Scheme (EIS) Seed enterprise investment scheme (SEIS) Social Investment Tax Relief (SITR) Venture Capital Trusts (VCT) Community investment tax relief (CITR) Employee ownership trust 6. Business profits Making Tax Digital (MTD) Cash basis Fixed rate deductions Averaging profits for farmers and artists Car hire costs Residential property lettings Time limits for claims and elections Lease premiums Self-employment Income Support Scheme (SEISS) 7. Taxation of companies Rates of corporation tax Research and Development (R&D) Patent Box Film tax relief Creative industries tax reliefs Loans to participators Company tax returns and payments Time limits for claims and elections Indexation allowance 8. Capital Gains Tax Rates and annual exemptions Chattel exemption Business Asset Disposal Relief Investors' relief Rollover relief for business assets Main residence relief Assets of negligible value Cultural Gift Scheme Leases which are wasting assets Exempt gilt-edged securities Identification of securities Time limits for elections and claims 9. Inheritance tax and estates IHT thresholds Rates of IHT Gift exemptions Agricultural and business property relief Quick succession relief Taper relief Pre-owned assets Delivery of IHT accounts Due dates for payment of IHT Distribution of intestate estates 10. Capital Allowances Plant and machinery Cars Buildings and fixtures Short-life assets Other allowances Time limits for elections and claims Enterprise zones 11. Stamp Taxes Stamp Duty Land Tax (SDLT) Stamp duty Stamp Duty Reserve Tax (SDRT) 12. VAT Registration and deregistration limits Rates and fractions Zero-rated supplies Reduced rate supplies Exempt supplies Supplies between EU member states Annual accounting scheme Cash accounting scheme Flat-rate scheme for small businesses Partial exemption de minimis limits Capital goods scheme (CGS) VAT invoices Private fuel scale charges EU VAT rates for cross-border sales Place of supply – services Intrastat reporting EC Sales List (ESL) 13. Other taxes and duties Annual tax on enveloped dwellings (ATED) Machine games duty (MGD) Insurance Premium Tax (IPT) Landfill tax Aggregates levy Climate Change Levy (CCL) Road fuel duty Vehicle Excise Duty (VED) Air Passenger Duty (APD) Bank levy Plastic packaging tax 14. National Insurance Contributions (NIC) Class 1 contributions Employment allowance Class 1A contributions Class 1B contributions Class 2 contributions Class 3 contributions Class 4 contributions 15. State benefits Tax Credits Income thresholds and withdrawal rates Universal Credit Social security benefit rates Non-taxable social security benefits Child Benefit and Guardian's allowance State pension 16. Statutory payments National Minimum Wage (NMW) Statutory Sick Pay (SSP) Statutory Maternity Pay (SMP) Statutory Adoption Pay (SAP) Statutory Paternity Pay (SPP) Statutory Parental Bereavement Pay (SPBP) 17. Penalties and interest Structure of Penalties Late filing or late payment Corporation tax penalties VAT penalties EC Sales List (ESL) penalties SDLT penalties Interest rates HMRC Clearances 18. Scottish and Welsh Taxes Scottish Income Tax (SIT) Land and buildings transaction tax Scottish Landfill Tax (SLfT) Welsh Rate of Income Tax (WRIT) Land Transaction Tax Welsh Landfill Disposals Tax (LDT) Distribution of intestate estates 19. International issues Diverted Profits Tax (DPT) Digital Services Tax (DST) Foreign exchange rates Recognised stock exchanges Double Taxation Agreements Index Essential Tables -- Key Tax Dates -- Personal Taxation -- Expenses and Benefits -- Payroll matters -- Shares and share options -- Pensions and investments -- Business profits -- Taxation of companies -- Capital Gains Tax -- Inheritance Tax, gifts and deceased estates -- Capital Allowances -- Stamp Taxes -- VAT -- Other taxes and duties -- National Insurance Contributions (NIC) -- Tax credits and state benefits -- Statutory payments -- HMRC penalties, interest and powers -- Scottish and Welsh Taxes -- International issues -- Index