Stamp Duty Land Tax
Residential rates may be increased by 3% where further residential properties are acquired. Land and buildings in England and N. Ireland Residential £ Rate % Non-residential £ 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 From 22 November 2017 a First-Time Buyer exemption may apply on residential purchases up to £300,000 and for the first £300,000 of purchases up to £500,000. Different systems of property taxation apply in Scotland and are introduced in Wales from 1 April 2018.
National Insurance Contributions
Class 1
Employee (primary)
Employer (secondary)
Payable on weekly earnings of: Below £116 (lower earnings limit) £116 - £162 (primary threshold) Up to £162 (secondary threshold)
Nil
– –
*0%
– –
Nil
Above £162
13.8%
£162.01 - £892 (upper earnings limit)
**12%
–
£162.01 - £892 (under 21s and apprentices under 25)
–
0%
Above £892 – *No NICs are actually payable but notional Class 1 NIC is deemed to have been paid; this protects contributory benefit entitlement. **Over state pension age the employee contribution is generally nil. **2%
Employment Allowance Class 1A On relevant benefits
up to £3,000 (per year)
13.8%
Class 2 Self employed
£2.95 per week
Small profits threshold
£6,205 per annum £14.65 per week
Class 3 Voluntary
Class 4 Self employed on annual profits £8,424 - £46,350
*9%
Excess over £46,350 *2% *Exemption applies if state pension age was reached by 6 April 2018.
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