Chartered Management Accountants | Milton Keynes
|Individual basic-rate income tax band||10%||18%|
|Individual higher-rate and additional-rate income tax bands||20%||28%|
|Gains on residential property not eligible for principal private residence (PPR) relief and carried interest|
|Individual basic-rate income tax band||18%||18%|
|Individual higher-rate and additional-rate income tax bands||28%||28%|
|Entrepreneurs’ relief – effective rate||10%||10%|
|Entrepreneurs’ relief to a limit of||£10m||£10m|
|Individuals and personal representitives||£12,000||£11,700|
|Settlement(s) (spread over total number)||£6,000||£5,850|
|Main rate for trustees and personal representatives||20%||20%|
|Rate for trustees and personal representatives (for gains on residential property not eligible for PRR)||28%||28%|
|(proceeds per item or set)||£6,000||£6,000|
We will address some crucial points on this guide, such as the taxes that need to be paid by landlords and tax-effective property ownership.
We share with you the top tips and tricks to ensure that filing the annual self-assessment form becomes as stress-free for you as possible!