2010/11 Tax rates & allowances

With changes in the tax system now an ever-present feature, our up-to-date experience is available to ensure clients' tax liabilities are planned to be at a minimum.

 

You can find an archive here http://www.hmrc.gov.uk/rates/archive.htm

 

Our tax rates and allowances are now updated for 2010/11 and take into account the announcements made in both the 2010 Budget and the 2010 emergency Budget.

The key changes for 2010/11 include:

• A new 50 percent tax rate
• Entrepreneurs' relief of £2 million to 22 June and £5 million from 23 June 2010
• Changes to stamp duty land tax for first time buyers
• Standard rate of VAT: increase from 17.5% to 20% on 4 January 2011
• New mileage allowances from 1 June 2011