\n| Threshold<\/td>\n | \u00a350,000<\/td>\n | \u00a350,000<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n <\/p>\n There is a tax charge of 1% of the child benefit received for each \u00a3100 that the threshold is exceeded up to a maximum of 100%.<\/p>\n Vehicle and Fuel Benefits In Kind (BIK)<\/h1>\nThe taxable BIK is calculated as a percentage of the car\u2019s UK list price. The percentage depends on the car\u2019s CO2<\/sub><\/strong> emissions in grams per kilometre (g\/km).<\/p>\n\n\n\nEmissions<\/strong><\/td>\nPetrol\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/strong><\/td>\nDiesel<\/strong><\/td>\n<\/tr>\n\n| 0 \u2013 50g\/km<\/td>\n | 9%<\/td>\n | 12%<\/td>\n<\/tr>\n | \n| 51 \u2013 75g\/km<\/td>\n | 13%<\/td>\n | 16%<\/td>\n<\/tr>\n | \n| 76 \u2013 94g\/km<\/td>\n | 17%<\/td>\n | 20%<\/td>\n<\/tr>\n | \n| Over 94g\/km<\/td>\n | add 1% for every 5g\/km or part thereof<\/td>\n<\/tr>\n | \n| 190g\/km* and over<\/td>\n | \u00a037% maximum<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n *Over 174g\/km for diesel.<\/p>\n The list price is on the day before first registration, including most accessories and is reduced by any employee\u2019s capital contribution (max \u00a35,000) when the car is first made available.<\/p>\n Where the cost of all fuel for private use is borne by the employee, the fuel benefit is nil. Otherwise, the fuel benefit is calculated by applying the car benefit percentage (above) to \u00a322,600 (2016\/17, \u00a322,200).<\/p>\n Vans where private use is more than home to work travel; \u00a33,230 (2016\/17, \u00a33,170) benefit and \u00a3610 (2016\/17, \u00a3598) for private fuel. Payments by employees for private use may reduce these BIK. Vans with zero emissions have a benefit of \u00a3646 (2016\/17, \u00a3634).<\/p>\n Tax-free Mileage Allowances<\/h1>\n\n\n\n| Cars and vans<\/td>\n | First 10,000 business miles<\/td>\n | 45p<\/td>\n<\/tr>\n | \n| Thereafter<\/td>\n | 25p<\/td>\n<\/tr>\n | \n| Motorcycles<\/td>\n | 24p<\/p>\n <\/td>\n<\/tr>\n | \n| Bicycles<\/td>\n | 20p<\/p>\n <\/td>\n<\/tr>\n | \n| Business passenger<\/td>\n | 5p<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n For national insurance purposes: 45p for all business miles for cars and vans.<\/p>\n Capital Gains Tax<\/h1>\n\n\n\n| <\/td>\n | 2017\/18<\/strong><\/td>\n2016\/17<\/strong><\/td>\n<\/tr>\n\nMain rates<\/strong><\/td>\n| <\/td>\n | <\/td>\n<\/tr>\n | \n| \u00a0 Individual basic rate<\/td>\n | 10%<\/td>\n | 10%<\/td>\n<\/tr>\n | \n| \u00a0\u00a0Individual higher rate<\/td>\n | 20%<\/td>\n | 20%<\/td>\n<\/tr>\n | \n| \u00a0 Trusts and estates<\/td>\n | 20%<\/td>\n | 20%<\/td>\n<\/tr>\n | \nGains on residential property not eligible for PPR relief and carried interest<\/strong><\/td>\n| <\/td>\n | <\/td>\n<\/tr>\n | \n| \u00a0 Individual basic rate<\/td>\n | 18%<\/td>\n | 18%<\/td>\n<\/tr>\n | \n| \u00a0 Individual higher rate<\/td>\n | 28%<\/td>\n | 28%<\/td>\n<\/tr>\n | \n| \u00a0 Trusts and estates<\/td>\n | 28%<\/td>\n | 28%<\/td>\n<\/tr>\n | \n| Annual exemption<\/td>\n | Individuals<\/td>\n | \u00a311,300<\/td>\n | \u00a311,100<\/td>\n<\/tr>\n | \n| Trusts<\/td>\n | \u00a35,650<\/td>\n | \u00a35,550<\/td>\n<\/tr>\n | \n| Entrepreneurs’ relief<\/td>\n | Applicable rate<\/td>\n | 10%<\/td>\n | 10%<\/td>\n<\/tr>\n | \n| Lifetime limit<\/td>\n | \u00a310m<\/td>\n | \u00a310m<\/td>\n<\/tr>\n | \n| Investors\u2019 relief<\/td>\n | Applicable rate<\/td>\n | 10%<\/td>\n | 10%<\/td>\n<\/tr>\n | \n| <\/td>\n | Lifetime limit<\/td>\n | \u00a310m<\/td>\n | \u00a310m<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n <\/p>\n Inheritances Tax<\/h1>\n\n\n\n| <\/td>\n | 2017\/18<\/strong><\/td>\n2016\/17<\/strong><\/td>\n<\/tr>\n\n| Nil-rate band threshold*<\/td>\n | \u00a3325,000<\/td>\n | \u00a3325,000<\/td>\n<\/tr>\n | \n| Main residence nil-rate band**<\/td>\n | \u00a3100,000<\/td>\n | N\/A<\/td>\n<\/tr>\n | \n| Combined threshold limit for married couples and civil partners, including main residence nil-rate band<\/td>\n | \u00a3850,000<\/td>\n | \u00a3650,000<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n * Up to 100% of any unused part of a deceased person\u2019s nil-rate band can be claimed by the surviving spouse\/civil partner on their death.<\/p>\n ** For estates worth in excess of \u00a32m, the main residence nil-rate band will be tapered at a withdrawal rate of \u00a31 for every \u00a32 over the threshold.<\/p>\n \n- Tax rates<\/li>\n<\/ul>\n
\n\n\n| <\/td>\n | 2017\/18<\/strong><\/td>\n2016\/17<\/strong><\/td>\n<\/tr>\n\n| Main rate<\/td>\n | 40%<\/td>\n | 40%<\/td>\n<\/tr>\n | \n| Chargeable on lifetime transfers<\/td>\n | 20%<\/td>\n | 20%<\/td>\n<\/tr>\n | \n| Transfers on or within 7 years of death*<\/td>\n | 40%<\/td>\n | 40%<\/td>\n<\/tr>\n | \n| Reduced rate**<\/td>\n | 36%<\/td>\n | 36%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n *All lifetime transfers not covered by exemptions and made within 7 years of death will be added back into the estate for the purposes of calculating the tax payable. This may then be reduced as shown in the next table.<\/p>\n ** Applies if 10% or more of net estate given to charity.<\/p>\n \n\n\n| Years before death<\/td>\n | 0-3<\/td>\n | 3-4<\/td>\n | 4-5<\/td>\n | 5-6<\/td>\n | 6-7<\/td>\n<\/tr>\n | \n| Tax reduced by<\/td>\n | 0%<\/td>\n | 20%<\/td>\n | 40%<\/td>\n | 60%<\/td>\n | 80%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n Contact us about exemptions.<\/p>\n Company Taxation<\/h1>\n\n\n\nFinancial year from 1 April<\/strong><\/td>\n2017<\/strong><\/td>\n2016<\/strong><\/td>\n<\/tr>\n\n| \u00a0Corporation tax rate<\/td>\n | <\/td>\n | 19%<\/td>\n | 20%<\/td>\n<\/tr>\n | \n| Loans to participators<\/td>\n | 32.5%<\/td>\n | 32.5%<\/td>\n<\/tr>\n | \n| Diverted profits tax<\/td>\n | 25%<\/td>\n | 25%<\/td>\n<\/tr>\n | \n| <\/td>\n | <\/td>\n | <\/td>\n | <\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n | | | | | | | | | | | | | | | | | | | | | |