Tax
Tables: 1999/2000, 2000/01, 2001/02, 2002/03 and 2003/04
|
.
| Taxable
bands |
1999-00
(£)
|
|
Starting
rate 10 per cent
|
0-1
500
|
|
Basic
rate 23 per cent
|
1
501-28 000
|
|
Higher
rate 40 per cent
|
Over
28 000
|
| Taxable
bands |
2000-01
(£)
|
|
Starting
rate 10 per cent
|
0-1
520
|
|
Basic
rate 22 per cent
|
1
521-28 400
|
|
Higher
rate 40 per cent
|
Over
28 400
|
| Taxable
bands |
2001-02
(£)
|
|
Starting
rate 10 per cent
|
0-1
880
|
|
Basic
rate 22 per cent
|
1
881-29 400
|
|
Higher
rate 40 per cent
|
Over
29 400
|
| Taxable
bands |
2002-03
(£)
|
|
Starting
rate 10 per cent
|
0-1
920
|
|
Basic
rate 22 per cent
|
1
921-29 900
|
|
Higher
rate 40 per cent
|
Over
29 900
|
| Taxable
bands |
2003-04
(£) |
| Starting
rate 10 per cent |
0-1
960 |
|
Basic
rate 22 per cent |
1
961-30 500 |
| Higher
rate 40 per cent |
Over
30 500 |
Back
to Top
.
|
1999-00
(£) |
2000-01
(£) |
2001-02
(£) |
2002-03
(£) |
2003-04
(£) |
| Personal
allowance
Personal
allowance: age 65-74
Personal
allowance: age 75 and over |
4
335
5
720
5
980 |
4
385
5
790
6
050 |
4
535
5
990
6
260 |
4
615
6 100
6 370 |
4
615
6 610
6 720 |
|
Married
couples allowance: age 65 before 6 April 1935
Married
couples allowance: age 75 or more
Married
couples allowance: minimum amount |
5
125
5
195
1
970 |
5
185
5
255
2
000 |
5
365
5
435
2
070 |
5
465
5 535
2 110 |
5
565
5 635
2 150 |
| Income
limit for age - related allowances |
16
800 |
17
000 |
17
600 |
17
900 |
18
300 |
|
Widows
bereavement allowance |
1
970 |
2
000 |
N/A |
N/A |
N/A |
| Children's
tax credit |
|
|
5
200 |
5
290 |
*abolished |
| Blind
persons allowance |
1
380 |
1
400 |
1
450 |
1
480 |
1
510 |
*replaced by Tax credits
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.
| |
1999-00
(£) |
2000-01
(£) |
2001-02
(£) |
2002-03
(£) |
2003-04
(£) |
| Capital
gains tax annual exempt amount |
|
|
|
|
|
|
Individuals etc |
7
100 |
7
200 |
7
500 |
7
700 |
7
900 |
| Other
trustees |
3
550 |
3
600 |
3
750 |
3
850 |
3
950 |
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.
| |
Writing
down allowance
|
| Plant
and Machinery |
25%
(40% first year allowance)
|
| Motor
Cars |
25%
£3000 max
|
| Industrial
Buildings |
4%
|
| Agricultural
Buildings |
4%
|
| Hotels |
4%
|
| Information
& Communications Technology |
25%
(100% first year allowance)
|
First year
allowances for information and communications technology are at
the rate of 100% for small businesses.
Small businesses
if less than 50 employees turnover less than 2.8M and total assets
less than 1.4M.
Back
to Top
.
Contribution
limit- % of net relevant earnings
| Age
on 6 April 1999 |
PPS |
RAP
|
| 35
or less |
17.5 |
17.5 |
| 36-45 |
20.0 |
17.5 |
| 46-50 |
25.0 |
17.5 |
| 51-55 |
30.0 |
20.0 |
| 56-60 |
35.0 |
22.5 |
| 61-74 |
40.0 |
27.5 |
The details
based on 1999/2000 but are unchanged for the new tax year 2000/2001.
| |
1999/2000 |
2000/01 |
2001/02 |
2002/03
|
2002/03
|
| |
£ |
£ |
£ |
£ |
£ |
| Pension
Schemes Earning Cap |
90,600 |
91,800 |
95,400 |
97,200 |
99,000 |
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.
|
Death
Rate |
Lifetime
Rate |
1999/00 |
2000/01 |
2001/02 |
2002/03 |
2003/04 |
|
% |
% |
£000s |
£000s |
£000s |
£000s |
£000s |
| Nil |
Nil |
0-231 |
0-234 |
0-242 |
0-250 |
0-255 |
|
40 |
20 |
Over
231 |
Over
234 |
Over
242 |
Over
250 |
Over
255 |
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..
|
Corporation
tax profits
|
1999-00
(£)
|
| |
|
Small
companies rate 20 per cent
|
0-300
000
|
|
Marginal
relief
|
300
001-1 500 000
|
|
Main
rate 30 per cent
|
1
500 001 or more
|
|
Corporation
tax profits
|
2000-01
(£)
|
|
Starting
rate 10 per cent
|
0-10
000
|
|
Marginal
relief
|
10
001-50 000
|
|
Small
companies rate 20 per cent
|
50
001-300 000
|
|
Marginal
relief
|
300
00-1 500 000
|
|
Main
rate 30 per cent
|
1
500 001 or more
|
|
Corporation
tax profits
|
2001-02
(£)
|
|
Starting
rate 10 per cent
|
0-10
000
|
|
Marginal
relief
|
10
001-50 000
|
|
Small
companies rate 20 per cent
|
50
001-300 000
|
|
Marginal
relief
|
300
00-1 500 000
|
|
Main
rate 30 per cent
|
1
500 001 or more
|
|
Corporation
tax profits
|
2002-03
(£)
|
|
Starting
rate zero
|
0-10
000
|
|
Marginal
relief
|
10
001-50 000
|
|
Small
companies rate 19per cent
|
50
001-300 000
|
|
Marginal
relief
|
300
00-1 500 000
|
|
Main
rate 30 per cent
|
1
500 001 or more
|
| Corporation
tax profits |
2003-04
(£) |
| Starting
rate zero |
0-10
000 |
| Marginal
relief |
10
001-50 000 |
| Small
companies rate 19per cent |
50
001-300 000 |
| Marginal
relief |
300
00-1 500 000 |
| Main
rate 30 per cent |
1
500 001 or more |
The main rate
of corporation tax for 2003-04 will be 30 per cent.
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..
Car fuel scale
charge
| |
|
Up
to 1400cc |
1401-2000cc |
Over
2000cc |
| |
|
£
|
£
|
£
|
| 2002/03 |
-petrol |
2,240
|
2,850
|
4,200
|
| |
-diesel |
2,850
|
2,850
|
4,200
|
| 2001/02 |
-petrol |
1,930
|
2,460
|
3,620
|
| |
-diesel |
2,460
|
2,460
|
3,620
|
| 2000/01 |
-petrol |
1,700
|
2,170
|
3,200
|
| |
-diesel |
2,170
|
2,170
|
3,200
|
| 1999/00 |
-petrol |
1,210
|
1,540
|
2,270
|
| |
-diesel |
1,540
|
1,540
|
2,270
|
The fuel scale
charge is reduced to nil only if the employee pays for all
private fuel.
|
Car
and Fuel Benefits 2003/04 |
| To
calculate the benefit charge on free fuel the percentage
figure will be multiplied against a set figure for the year.
For the year 2003/04 the set figure will be £14,400.
For example
A car that has CO2 emissions of 195g/km
Percentage used to calculate the company car tax charge
for 2003/04 is 23%. The fuel scale charge will be 14,400
x 23% = £3,312.
To
calculate the car benefit charge you will need to know the
price of the car for tax purposes and the approved CO2 emissions
figure for the particular vehicle.
Example
1
Petrol
car with an approved CO2 emissions figure. The price of
the car for tax purposes is £15,000. The approved
CO2 emissions figure is 183g/ km.
* Round 183 down to 180.
* Look up percentage of the car's price to be taxed for
180g/ km CO2 for the relevant year in the ready reckoner
below:
Percentage
charge is 20%.
*Basic car benefit charge is £15,000 x 20% = £3,000.
Example
2
Diesel
car with an approved CO2 emissions figure.
The price of the car for tax purposes is £20,000.
The approved CO2 emissions figure is 172g/ km.
Round 172 down to 170.
Look up percentage of car's price to be taxed for the relevant
year in the ready reckoner below:
Percentage
charge is 18%.
* Add 3% diesel supplement, so percentage charge becomes
21%.
* Basic car benefit charge is £20,000 x 21% = £4,200. |
|
CO2
emissions in grams per kilometre |
Percentage
of car's price to be taxed |
|
2002-03
|
2003-04
|
2004-05
|
|
|
165
|
155
|
145
|
15*
|
|
170
|
160
|
150
|
16*
|
|
175
|
165
|
155
|
17*
|
|
180
|
170
|
160
|
18*
|
|
185
|
175
|
165
|
19*
|
|
190
|
180
|
170
|
20*
|
|
195
|
185
|
175
|
21*
|
|
200
|
190
|
180
|
22*
|
|
205
|
195
|
185
|
23*
|
|
210
|
200
|
190
|
24*
|
|
215
|
205
|
195
|
25*
|
|
220
|
210
|
200
|
26*
|
|
225
|
215
|
205
|
27*
|
|
230
|
220
|
210
|
28*
|
|
235
|
225
|
215
|
29*
|
|
240
|
230
|
220
|
30*
|
|
245
|
235
|
225
|
31*
|
|
250
|
240
|
230
|
32*
|
|
255
|
245
|
235
|
33**
|
|
260
|
250
|
240
|
34***
|
|
265
|
255
|
245
|
35****
|
Diesel
Supplements
* Add 3% if car runs solely on diesel.
** Add 2% if car runs solely on diesel.
*** Add 1% if car runs solely on diesel.
**** Maximum charge, so no diesel supplement.
The
basic car benefit charge will be the car's price multiplied
by the percentage charge for the CO2 emissions band in which
the car falls, subject to
- the
addition of any diesel supplement, or
- discount
for cars using alternative fuels and technologies.
|
Back
to Top
..
| Income
tax year |
Car
engine size (cc) |
Rate
pence per mile
|
| |
|
First
4000 business miles
|
over
4000 business miles
|
| 1999-00 |
up to
1000 |
28.0
|
17.0
|
| |
1001-1500 |
35.0
|
20.0
|
| |
1501-2000 |
45.0
|
25.0
|
| |
over
2000 |
63.0
|
36.0
|
| |
|
|
|
| 2000-01 |
up to
1000 |
28.0
|
17.0
|
| |
1001-1500 |
35.0
|
20.0
|
| |
1501-2000 |
45.0
|
25.0
|
| |
over
2000 |
63.0
|
36.0
|
| |
|
|
|
| 2001-02 |
up to
1000 |
40.0
|
25.0
|
| |
1001-1500 |
40.0
|
25.0
|
| |
1501-2000 |
45.0
|
25.0
|
| |
over
2000 |
63.0
|
36.0
|
| |
|
|
|
| From
6 April 2002, there is a new system for working out whether
you have to pay tax and NICs on any payments your employer
makes to you using your own vehicle for business journeys.
Under the new rules, there is a maximum amount that you can
recieve without paying tax. This is called an approved mileage
allowance payment (AMAP) and is calculated by using approved
mileage rates. |
|
Approved
mileage rates
|
| 2002-2003
|
First
10,000 business miles in the tax year
|
Each
mile over 10,000 miles in the tax year
|
| Cars
and vans |
40p
|
25p
|
| Motor
cycles |
24p
|
24p
|
| Bicycles |
20p
|
20p
|
| Passengers |
5p
|
5p
|
Back
to Top
..
| Standard
Rate |
17.5%
|
| Lower
Rate |
5%
|
| Annual
Registration Limit-from
1 April 2001 |
£54,000
|
Back
to Top
..
|
National
Insurance Contributions 1999/00
|
|
Item
|
1999/00
|
|
Lower Earnings
Limit
|
£66
|
|
Upper
Earnings Limit
|
£500
|
|
Secondary
Threshold
|
£83
|
|
Employees
contributions
|
10%
|
|
Married
Women Reduced Rate
|
3.85%
|
|
Employers
Contribution Rates
|
12.2%
|
|
Class 2
Self employed Contribution
|
£6.55
|
|
Small
Earnings Exception
|
£3,770
|
|
Class 3
(voluntary) Contribution
|
£6.45
|
|
Class 4
Contributions-Upper Profits Limit
|
£26,000
|
|
Class 4
Contributions-Lower Profits Limit
|
£7,530
|
|
Class 4-Contribution
Rate
|
6.0%
|
Figures are
based on weekly earnings.
Back
to Top
..
|
National
Insurance Contributions 2000/01
|
|
Item
|
2000/01
|
|
Lower Earnings
Limit
|
£67
|
|
Upper
Earnings Limit
|
£535
|
|
Primary
Threshold
|
£76
|
|
Secondary
Threshold
|
£84
|
|
Employees
contributions
|
10%
of £76.01 to £535
|
|
Employees
Contracted-out Rebate
|
1.6%
|
|
Married
Women Reduced Rate
|
3.85%
|
|
Employers
Contribution Rates
|
12.2%
|
|
Employers
Contracted-out Rebate
|
3.0%
COSR
0.6% COMP
|
|
Class 2
Self employed Contribution
|
£2.00
|
|
Small
Earnings Exception
|
£3,825
|
|
Class 3
(voluntary) Contribution
|
£6.55
|
|
Class 4
Contributions-Upper Profits Limit
|
£27,820
|
|
Class 4
Contributions-Lower Profits Limit
|
£4,385
|
|
Class 4-Contribution
Rate
|
7.0%
|
Figures are
based on weekly earnings.
Back
to Top
|
National
Insurance Contributions 2001/02
|
|
Item
|
2001/02
|
|
Lower Earnings
Limit
|
£72
per week
|
|
Upper
Earnings Limit
|
£575
per week
|
|
Primary
Threshold
|
£87
per week
|
|
Secondary
Threshold
|
£87
per week
|
|
Employees
contributions
|
10%
of £87.01 to £575 per week
|
|
Employees
Contracted-out Rebate
|
1.6%
|
| |
