Stamp Duty Land Tax
On the transfer of property in England, Wales and N.Ireland, the Stamp Duty Land Tax is: Residential Value up to £125,000 0% Over £125,000 – £250,000 2% Over £250,000 – £925,000 5% Over £925,000 – £1,500,000 10% Over £1,500,000 12% Non-residential Value up to £150,000 0% Over £150,000 – £250,000 2% Over £250,000 5% The rates apply to the portion of the total value which falls within each band. Additional SDLT of 3% may apply to the purchase of additional residential properties.
National Insurance Contributions
Class 1
Employee (primary)
Employer (secondary)
Payable on weekly earnings of: Below £113 (lower earnings limit) £113 - £157 (primary threshold) Up to £157 (secondary threshold)
Nil
– –
*0%
– –
Nil
Above £157
13.8%
£157.01 - £866 (upper earnings limit)
**12%
–
£157.01 - £866 (under 21s and apprentices under 25)
–
0%
Above £866 – *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. Employment Allowance up to £3,000 (per year) Class 1A On relevant benefits 13.8% Class 2 Self employed £2.85 per week Small profits threshold £6,025 per annum Class 3 Voluntary £14.25 per week Class 4 Self employed on annual profits £8,164 - £45,000 *9% Excess over £45,000 *2% *Exemption applies if state pension age was reached by 6 April 2017. **2%
FOR ELECTRONICUSEONLY
Made with FlippingBook HTML5