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Budget 2007
Introduction
Main Income Tax reliefs
Income Tax Rates and bands
Car Benefit Assessment
Tax Free Mileage Allowances
National Insurance Contributions
Pension Contributions
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
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Value Added Tax
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Standard rate (7/47 of VAT-inclusive price)
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17.5%
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Registration level from 01.4.07
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£64,000 per annum
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Deregistration level from 01.4.07
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£62,000 per annum
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Scale Charges (from 1.5.07)
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The scale charges for private use of business fuel change to
be based on the CO2 emissions rating of the car. A different charge will
apply for each 5g/km increase between 140g/km (min) and 240g/km (max). For
a 3 month period:
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144 and below
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£154.89 net
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£27.11 VAT
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rising per 5g/km by approx*
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10.38 net
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1.82 VAT
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240 or above
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362.55 net
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63.45 VAT
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* exact figures must be obtained from full table.
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