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Interest free Instalments

We offer interest free payments on either Standing Order or your credit / debit card.

With no hidden fees.

Below are the current Tax, VAT, National insurance and Mileage allowance

For year 2017/18

Income Tax Allowances 2017/18   2016/17
Personal Allowance £11,500 £11000 
Income limit for personal allowance £100,000 £100,000
Income limit for personal allowances (born     
before 6 April 1948) £28,000 £27,700
Marriage couples allowance £1,150 £1,100
Maximum amount of married couples allowance £8,445 £8,355
Minimum amount of married couples allowance £3,260 £3,220
Blind Person's Allowance £2,320 £2,230
Dividend allowance £5,000 £5,000 
Personal allowance for basic rate taxpayer £1,000 £1,000
Personal allowance for basic higher taxpayer £500  £500
 
 
 
Income Tax Rates  2017/18   2016/17
Rates    
Basic rate 20% 20%
Higher rate 40% 40%
Additional rate 45% 45%
Starting Rate for savings income  10% 10%
Trust rate 45% 45%
Basic rate band £0-£33,500  £0-£32,000
Higher rate band £323,501-£150K £32,001-£150K
Additional rate band Over £150K Over £150K 
 
National Insurance 2017/18 2016/17
Allowances    
Weekly Lower Earnings Limit (LEL) £113 £112
Weekly Primary Threshold (PT) £157 £155
Weekly Secondary Threshold (ST) £157 £156
Upper Earnings Limit (UEL) £866 £827
Upper Secondary Threshold fro U21's £866 £827
Small Profit Threshold (SPT) £5,965 £5,965
Employment Allowance £3,000 £3,000
Apprentice Upper Secondry Threshold (AUST) for under 25's £866 £827

 

National Insurance 2017/18 2016/17
Rates    
Employee's Class 1 Rates    
Weekly Earnings from £153.01 to £827.00 12% 12%
Weekly Earnings above £827.00 2% 2%
     
Employer's Class 1 Rates    
Weekly Earnings above £156.00 13.8% 13.8%
 
Class 1a and Class 1b -13.8%  
Class 4 (Self-employed) 9% of profits between £8,164 - £45,000
and 2% of profits above £45,000

 

Capital Gains 2017/18 2016/17
Annual Exempt Allowances    
Individuals £11,300 £11,100
Trusts Generally £5,550 £5,550
Rates for individuals (Standard) 18% 18%
Rates for individuals (Higher) 28% 28%
Rates for trustees 28% 28%
Entrepreneur’s relief 10% 10%
Entrepreneur’s relief Lifetime limit £10m £10m

 

Corporation Tax 2017/18 2016/2017
Profits    
All Profits 19% 20%

 

Value Added Tax (VAT) 2017/2018 2016/2017
Rates    
Standard Rate 20% 20%
Lower Rate 5% 5%
Registration Threshold £85K £83K
De-registration Threshold £83K £81K

 

Mileage Allowances Up to 10000 Over 10000
Rates Miles Miles
Cars and Vans 45p 25p
Motor Cycles 24p 24p
Bicycles 20p 20p
Passengers (making the same trip) 5p 5p

 

Inheritance Tax 2017/2018 2016/2017
Rates    
Up to £325,000 Nil Nil
Over £325,000 40% 40%

 

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If you want a no obligation quote, Please do not hesitate to give us a call, We can talk through your requirements, the price we quote is the price you pay. there are never any hidden extras.

Call or Write to

Abacus Accountants
9 Ruthin Road
Denbigh
Denbighshire
LL16 3EH

Telephone us on

01745 814440

fax

Fax us on

01745 814448

skype

Skype us on

01244 940114