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2008/09 Rates and Allowances
With changes in the tax system now an ever-present feature, our up-to-date experience is available to ensure clients' tax liabilities are planned to be at a minimum.
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This tax year there are the following key changes in the tax rates and tax system:
Starting rate band
From 6 April 2008 there is no 10% starting rate band.
Income tax
- Income tax now 20%
Corporation tax
- Main rate: 28%
- Small companies' rate: 21%
Capital gains tax
- Standard rate: 18%
- Entrepreneurs' relief on £1 million - effective rate: 10%
Capital allowances
- New annual investment allowance for first £50,000: 100%
While there is comprehensive information on our site, as our terms and conditions indicate, this information does not cover all situations or provide advice. Do please contact us for advice.
2008/09 Rates and Allowances
Main taxes
- Key dates and deadlines
- Income tax
- Corporation tax
- Inheritance tax
- Capital gains tax
- Value added tax
- NI contributions
- Residential property letting taxation
- Main capital allowances