Your guide to the current UK tax rates from FreeAgent. All rates are updated every time a change is made so you'll always know where you stand with HMRC.
'Labour will tax it' Sunak said during Tuesday's debate: "I'm clear that I'm going to keep cutting people's taxes as we now are ... Mark my words, Labour will raise your taxes, it's in their DNA. Your work, your car, your pension. You name it, Labour will tax it."...
Published by Mathilde Carlier, Oct 4, 2024 In 2023, there were 1.90 million new passenger cars registered in the United Kingdom. This was an 18 percent increase compared to the previous year. The UK new car market has recorded its best year since the pandemic. The growth in 2023, was ...
Reduced rate (5%) –Some health products and car seats for children Zero rate (0%) –Food, books and children’s clothing Merchants should apply the correct VAT rate depending on the product they are intending to sell. Income tax Income tax is paid to the UK government based on annual ...
Value Added Tax (VAT) Imported goods in the country typically incur a standard 20% VAT rate. However, certain products like health items, fuel heating, and child car seats are taxed at a 5% VAT rate. While essential items like most food, books, and children's clothing a...
Consumer costs that increase in line with the RPI include car tax, tobacco duty, alcohol duty and interest on student loans. Some mobile phone tariffs and train tickets are linked to the RPI figure, too. On the other hand, government spending tends to be linked to the lower CPI figure. ...
Life insurance is an insurance contract between one or more people and the insurance company whereby, a sum of money is paid out if the insured person dies. The life insurance payout is usually a tax-free cash lump sum. The life insurance contract can provide insurance for a fixed term of...
Capital gains tax rates The capital gains tax regime was simplified in Labour’s October 2024 Budget. Unfortunately the same Budget increased CGT rates, too. The specific rate you’ll pay on your gains depends on your total taxable income. ...
December 30 2024 UK government spending ‘Social value’ could be given more weight in deciding UK state contracts New public procurement rules set to allow more social enterprises and small businesses to bid in process Tax evasion and avoidance ...
October 4 2024 Electric vehicles UK drivers have ‘no fiscal incentive’ to buy EVs, warn carmakers Industry calls for tax cuts to boost market in open letter to chancellor Rachel Reeves Save September 18 2024 British Steel Ltd British Steel reveals losses deepened eightfold Concerns mount...