Tax Rates & Allowances (FA2015)

Question 1

Tax Rates & Bands…

Answer 1

20% upto 31,785
40% upto 150,000
45% over 150,000 
Savings taxed at 0%, 20%, 40%, 45%.
0% applied to max 5,000 savings only where non savings income is below this limit.
Dividends taxed at 10%, 32.5%, 37.5%.

Question 2

Personal Allowance…

Answer 2

10,600 Born after 5/4/1938
10,660 Born before 6/4/1938
27,700 Income limit for age allowance

Question 3

Car benefit percentage…

Answer 3

5% 0g/km - 50g/km
9% 51g/km - 75g/km
13% 76g/km - 94g/km
14% + 1% for every 5g/km above 95k/gm
\+3% for all diesel engines
22,100 figure for fuel

Question 4

Authorised Mileage rates…

Answer 4

45p First 10,000 miles

25p Over 10,000 miles

Question 5

Van Scale Charge…

Answer 5

Charge 3,150
Private Fuel Provided 594
Zero emission van - 630 (20% of Charge)

Question 6

HMRC official rate of interest…

Answer 6

3%

Question 7

Capital Gains Tax…

Answer 7

11,100 - Annual Exempt Amount
18% Tax Rate
28% Higher Tax Rate