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Key UK tax rates, thresholds and allowances

This Practice Note provides a summary of the following current UK tax rates, thresholds and allowances: corporation tax, income tax, National Insurance contributions (NICs), pay as you earn (PAYE), capital gains tax (CGT), VAT, insurance premium tax (IPT), stamp duty, stamp duty reserve tax (SDRT), stamp duty land tax in England and Northern Ireland (SDLT), land and buildings transaction tax in Scotland (LBTT), land transaction tax in Wales (LTT), annual tax on enveloped dwellings (ATED), UK withholding on yearly interest, and oil and gas tax. It also sets out relevant rates of interest, such as HMRC’s rates as well as the Bank of England official bank rate of interest.

The full tracker is available here: Key UK tax rates, thresholds and allowances.

Key dates for tax lawyers: 2024 and beyond

This Practice Note contains a list of key dates for tax lawyers in 2024 and beyond and is updated on an ongoing basis.

The full tracker is available here: Key dates for tax lawyers: 2024 and beyond.

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Latest Tax News

Finance Bill 2025 update: Public Bill Committee to begin in January

The Public Bill Committee is expected to begin scrutiny of the Finance Bill on 28 January 2025. Comments on the Bill are invited before then, and revised explanatory notes have been issued to cover the Government’s proposed Pillar 2 amendments.

FTT considers meaning of interest and decides that an element of redress payments constituted interest (NHS Mid & South Essex ICB and others v HMRC)

Tax analysis: In NHS Mid & South Essex ICB and others, the First-tier Tax Tribunal (FTT) decided that an element of the NHS continuing healthcare (CHC) redress payments constituted interest for the purposes of section 874 of the Income Tax Act 2007 (ITA 2007) and, furthermore, that the interest constituted yearly interest or was treated as yearly interest under ITA 2007, s 874(5A) since the interest was payable to individuals in respect of compensation.

Tax weekly highlights—19 December 2024

This week's edition of Tax weekly highlights includes: (1) the House of Commons committee debating (but not amending) clauses of the Finance Bill 2025, (2) the NICs Bill passing the House of Commons stages without amendment, and (3) the Spring Forecast to be published on 26 March 2025.

FTT applies carried-forward losses anti-avoidance rule (Blackfriars v HMRC)

Tax analysis: In Blackfriars Hotel (UK) Holdings Ltd, the First-tier Tax Tribunal (FTT) held that the anti-avoidance ‘loss refresh’ provisions of Part 14B of the Corporation Tax Act 2010 (CTA 2010) applied to disallow relief for pre-April 2017 carried forward loan relationship deficits against profits arising from tax arrangements entered into by the company.

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