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Your Tax Card 2021 / 22 Everything you need to know

BUSINESS

INCOME TAX ALLOWANCES, Personal allowance, VEHICLE AND FUEL BENEFITS-IN-KIND etc Accounting Direct Plus explaines

AVRUPA TIMES/LONDON-INCOME TAX ALLOWANCES, Personal allowance, VEHICLE AND FUEL BENEFITS-IN-KIND The taxable benefit-in-kind is calculated as a percentage of the car’s UK list price. The percentage depends on the car’s CO2 emissions in grams per kilometre (g/km).Subject to certain conditions, the unused amount of the annual allowance can be carried forward up to three years and used once the current year annual allowance has been fully utilised.

INCOME TAX ALLOWANCES
2021/22. 2020/21
Personal allowance*
£12,570 £12,500
Personal savings allowance – Basic-rate taxpayer
– Higher-rate taxpayer
– Additional-rate taxpayer
£1,000 £500 £0 £1,000 £500 £0
Dividend allowance at 0%
£2,000. £2,000
Marriage/civil partner transferable allowance**
£1,260. £1,250
Trading and property allowance***
£1,000. £1,000
Rent-a-room allowance
£7,500. £7,500
Blind person’s allowance
£2,520. £2,500
* The personal allowance is reduced by £1 for each £2 of income from £100,000 to £125,140.
** Any unused personal allowance may be transferred to a spouse or civil partner, where the recipient is not liable to higher or additional-rate tax.
*** Landlords and traders with gross income from each of these sources in excess of £1,000 can deduct the allowance from their gross income as an alternative to claiming expenses.

HERE IS THE FULL LIST AND RATES PLEASE CLICK 

OR CALL 020 8886 9222 VISIT www.accountingdirectplus.com send an e-mail: info@accountingdirectplus.com

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