UK Tax Rates

Income Tax

• Personal Allowance    £0 - £12,570                 0%
• Basic rate                      £12,571 - £50,270      20%
• Higher rate                   £50,271 - £150,000    40%
• Additional rate            over £150,000             45%

Corporation Tax 

• 19% Historic Rate (2017 onwards) 
• 19% for the financial year beginning 1 April 2022 
• 25% for the financial year beginning 1 April 2023 
• Small Profits Rate at 19% for the financial year beginning 1 April 2023

National Insurance

Employee

• Up to £9,876                    0%
• £9,877 - £50,270       13.25%
• £50,271 +                     3.25%

Employer

• Up to £9,100                     0%
• £9,101 - £50,270         15.05%
• £50,271 +                           0%

Self Employed

• Class 2                          £3.15 per week
• Class 4                         10.25% on profits between £9881 - £50,270

                                               3.25% on profits over £50,270

VAT

• Standard rate 20%, most goods and services
• Reduced rate  5%, some goods and services, eg home energy
• Zero rate 0%, eg most food and children's clothes