15
Autumn Budget 2021
Car, Van and Fuel Benefits 2022/23 CO 2 emissions g/km
Capital Gains Tax Individuals
2022/23 2021/22 £12,300 £12,300 10% 10% 20% 20%
% of list price taxed
Exemption
Standard rate
0
2
Higher/additional rate
1-50 Electric range 130 or more
Trusts Exemption
2 5 8
70 - 129 40 - 69 30 - 39
£6,150
£6,150
Rate 20% 20% Higher rates (18/28%) may apply to the disposal of certain residential property and carried interest. Business Asset Disposal Relief The first £1m of qualifying gains are charged at 10%. Property Taxes Across the whole of the UK, residential rates may be increased by 3% (4% in Scotland andWales) where further residential properties are acquired. Stamp Duty Land Tax Land and buildings in England and N. Ireland Residential Band £ Rate % Non-residential Band £ Rate % 0 - 125,000 0 0 - 150,000 0 125,001 - 250,000 2 150,001 - 250,000 2 250,001 - 925,000 5 Over 250,000 5 925,001 - 1,500,000 10 Over 1,500,000 12 First-Time Buyer relief may apply to residential purchases up to £500,000. Land and Buildings Transaction Tax Land and buildings in Scotland Residential Band £ Rate % Non-residential Band £ Rate % 0 - 145,000 0 0 - 150,000 0 145,001 - 250,000 2 150,001 - 250,000 1 250,001 - 325,000 5 Over 250,000 5 325,001 - 750,000 10 Over 750,000 12 First-Time Buyer relief may apply on the first £175,000 of residential purchases. Land Transaction Tax Land and buildings in Wales Residential Band £ Rate % Non-residential Band £ Rate % 0 - 180,000 0 0 - 225,000 0 180,001 - 250,000 3.5 225,001 - 250,000 1 250,001 - 400,000 5 250,001 - 1,000,000 5 400,001 - 750,000 7.5 Over 1,000,000 6 750,001 - 1,500,000 10 Over 1,500,000 12
12 14 15 +1
under 30
51-54
For every extra 5 160 and above
37 For fully diesel cars generally add a 4% supplement (unless the car is registered on or after 1 September 2017 and meets the Euro 6d emissions standard) but the maximum is still 37%. For emissions of 75g/km or more if the CO 2 figure does not end in a 5 or 0 round down to the nearest 5 or 0. 2022/23 Car fuel benefit £25,300 Van benefit £3,600 Van fuel benefit £688
Capital Allowances Corporation tax super-deduction on certain plant and machinery First Year Allowance (FYA) on certain plant, machinery and cars of 0g/km Corporation tax FYA on long-life assets, integral features of buildings, etc. Annual Investment Allowance (AIA) £1,000,000 (£200,000 from 1 April 2023) Excludes cars Writing Down Allowance Long-life assets, integral features of buildings, cars over 50g/km
130%
100%
50%
6%
18%
Other plant and machinery Structures and Buildings Allowance
3%
Value Added Tax
From 1.4.22 From 1.4.21
Standard rate Reduced rate
20% 20%
5%
5%*
Annual Registration Limit Annual Deregistration Limit
£85,000 £83,000
£85,000
£83,000 *12.5% for hospitality and tourism from 1 October 2021 - 31 March 2022.
Disclaimer: Rates are for guidance only. Whilst we take care to ensure the accuracy of this document, no responsibility for loss occasioned by any person acting or refraining from action as a result of this information can be accepted by the authors or firm.
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