Budget 2005


Introduction

Main Income Tax reliefs

Income Tax Rates and bands

Car Benefit Assessment

Tax Free Mileage Allowances

National Insurance Contributions

Personal Pensions and Retirement Annuity Premiums

Inheritance Tax

Value Added Tax

Capital Gains Tax

Corporation Tax

Main capital allowances

Stamp Duty & Stamp Duty Land Tax

Earliest due dates for payment of tax

Value Added Tax


Standard rate (7/47 of VAT-inclusive price) 17.5%
Registration level from 01.4.05 £60,000 per annum
Deregistration level from 01.4.05 £58,000 per annum
Scale Charges (from 1.5.05)
  Monthly Quarterly Annual
Petrol
Up to 1400cc £82 £246 £985
1401-2000cc 103 311 1,245
Over 2001cc 152 457 1,830
Diesel
Up to 2000cc 78 236 945
Over 2001cc 100 300 1,200
The VAT payable is 7/47 of these figures, which are VAT inclusive.