Tax data card 2022/23

Tax Card 2022/23


Personal allowance*£12,570£12,570
Personal savings allowance Basic-rate taxpayerHigher-rate taxpayerAdditional-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£1,260
Trading and property allowance***£1,000£1,000
Rent-a-room allowance£7,500£7,500
Blind person’s allowance£2,600£2,520

* 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.


Starting rate of 0% on savings up to*:£5,000£5,000
Basic-rate band£37,700£37,500
Higher-rate band£37,701 to £150,000£37,501 to £150,000
Additional-rate bandAbove £150,000Above £150,000
Dividend basic-rate8.75%7.5%
Dividend higher-rate33.75%32.5%
Dividend additional-rate39.35%38.1%

* The starting rate does not apply if taxable income exceeds the starting rate limit.

Income tax in Scotland

BandTaxable incomeRateTaxable incomeRate
Starter*£12,571 – £14,73219%£12,571 – £14,66719%
Basic£14,733 – £25,68820%£14,668 – £25,29620%
Intermediate£25,689 – £43,66221%£25,297 – £43,66221%
Higher**£43,663 – £150,00041%£43,663 – £150,00041%
Top**Above £150,00046%Above £150,00046%

* Assumes individual is in receipt of a personal allowance.

** The personal allowance is reduced by £1 for each £2 of income from £100,000 to £125,140.


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). 

CO² emissions (g/km)Electric range (miles)Appropriate percentage*
1 – 50130 and over2%
1 – 5070 – 1295%
1 – 5040 – 698%
1 – 5030 – 3912%
1 – 50Under 3014%
51 – 54n/a15%
Over 54n/a+ 1% for every 5g/km up to 37%

*Diesel vehicles not meeting the RDE2 standard will be liable to a 4% surcharge, up to a maximum of 37%. 

The list price is on the day before first registration, including most accessories, and is reduced by any employee’s capital contribution (max £5,000) when the car is first made available. Where the cost of all fuel for private use is borne by the employee, the fuel benefit is nil. Otherwise, the fuel benefit is calculated by applying the car benefit percentage to the car fuel benefit multiplier (below). 

Company car fuel2022/232021/22
Car fuel benefit multiplier£25,300£24,600
Company vans*2022/232021/22
Van benefit charge£3,600£3,500
Van fuel benefit charge£688£669

*Applies where private use is more than home-to-work travel. Payments by employees for private use may reduce these benefits-in-kind. Zero-emission vans have a benefit value of £0.


Cars and vans (including electric vehicles)First 10,000 business miles45p
Motorcycles                                                      24p
Bicycles                                                      20p
Business passenger                                                        5p

The tax-free business mileage allowance rates apply for qualifying business journeys incurred by employees using their own vehicles over the course of the tax year.

For National Insurance purposes, a 45p rate might apply for all business miles incurred by cars and vans.


Main ratesIndividual basic-rate10%10%
Individual above basic-rate20%20%
Trusts and estates20%20%
Surcharge – for gains on chargeable residential property and carried interest8%8%
Annual exemptionIndividuals£12,300£12,300
Business asset disposal reliefApplicable rate10%10%
Lifetime limit£1m£1m
Investors’ reliefApplicable rate10%10%
Lifetime limit£10m£10m


Nil-rate band threshold*£325,000£325,000
Main residence nil-rate band**£175,000£175,000
Combined threshold limit for married couples and civil partners, including main residence nil-rate band£1m£1m
Business property relief & agricultural property relief50% or 100%50% or 100%

* Up to 100% of any unused part of a deceased person’s nil-rate band can be claimed by the surviving spouse/civil partner on their death. This also applies to the main residence nil-rate band, albeit the main residence nil-rate is subject to the taper withdrawal below.

 ** For estates in excess of £2m, a 50% taper withdrawal applies to the excess.

Tax rates

Main rate40%40%
Chargeable on lifetime transfers20%20%
Transfers on or within seven years of death*40%40%
Reduced rate**36%36%

* All lifetime transfers not covered by exemptions and made within seven years of death will be added back into the estate for the purposes of calculating the tax payable. This may then be reduced as shown in the table below.

** Applies if 10% or more of net chargeable estate is left to certain registered charities.

Years before death0 – 33 – 44 – 55 – 66 – 7
Tax reduced by0%20%40%60%80%


Financial year from 1 April20222021
Corporation tax main rate19%19%
Loans to participators33.75%32.5%
Diverted profits tax25%25%


Initial allowances

Annual investment allowance: on first £1m (excludes cars)*100%
Super-deduction: qualifying plant and machinery (until 31 March 2023)130%
First-year allowance: special-rate pool50%
First-year allowance: including new and unused electric &  zero-emission goods vehicles100%

*Applies from 1 January 2019 to 31 March 2023, reverting to £200,000 from 1 April 2023. Transitional rules may apply for chargeable periods spanning these dates.

Writing-down allowances 

Plant and machinery main-rate expenditure18%
Plant and machinery special-rate expenditure6%
Cars1 – 50g/km18%
More than 50g/km6%
Structures and buildings allowance – straight-line relief3%*

*An enhanced structure and buildings allowance of 10% is available in qualifying freeport tax sites.


From 1 April 2022RateVAT fraction
Standard rate20%1/6
Reduced rate5%1/21

Taxable turnover limits

From 1 April20222021
Registration (last 12 months or next 30 days) over£85,000£85,000
Deregistration (next 12 months) under£83,000£83,000
Annual and cash accounting schemes turnover limit£1.35m£1.35m
Flat-rate scheme turnover limit£150,000£150,000


Revenue expenditure – SMEs230%
Capital expenditure – all companies100%
SME company R&D payable credit14.5%
Large company R&D expenditure credit (RDEC)13%


Annual investment limit2022/232021/22
Lifetime ISA*£4,000£4,000
Help-to-buy ISA (existing savers only)Up to £200 per month
Junior ISA and child trust fund£9,000£9,000
Venture capital trust at 30%£200,000£200,000
Enterprise investment scheme at 30%**£1m£1m
Seed EIS (SEIS) at 50%£100,000£100,000
Social investment tax relief at 30%£1m£1m

* Reduces ISA limit by amount invested in Lifetime ISA.

** Up to £2m in a knowledge-intensive company.


Lifetime allowance limit£1,073,100£1,073,100
Money purchase annual allowance£4,000£4,000
Annual allowance limit*£40,000£40,000
Minimum age for accessing benefits5555
Maximum tax-free pension lump sum25% of pension fund value

* Tapered at a rate of 50% of excess income down to £4,000 if threshold income over £200,000 and adjusted income over £240,000. Restrictions can apply based on net-relevant earnings. 

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. 


Class 1
Weekly earningsEmployee rateWeekly earningsEmployer rate
Up to £190Nil*Up to £175Nil
Over £190 – £96713.25%Over £175 – £96715.05%**
Over £9673.25%Over £96715..05%
Over state pension age0%Over state pension age15.05%

* Entitlement to contribution-based benefits is retained for earnings between £123 and £190 per week.

** 0% for staff under 21 and apprentices under 25 on earnings up to £967 a week, or for new employees in freeport tax sites on earnings up to £481 a week.

Class 1A
On relevant benefits, including car and fuel benefits15.05%
Class 2
Self-employed above small profits threshold£3.15 a week
Small profits threshold£6,725 per annum
Class 3
Voluntary£15.85 a week
Class 4*
Self-employed on profits £9,568 – £50,27010.25%
Over £50,2703.25%

* Exemption applies if the state retirement age is reached by 6 April 2022.

Employment allowance

Per employer, per year£4,000*

*One claim only for companies in a group or under common control. Not available where the director is the only employee paid earnings above the secondary threshold for class 1 NICs. Limited to employers with an employer NICs bill below £100,000 in the previous tax year.           

Apprenticeship levy

A levy of 0.5% applies where the pay bill exceeds £3m. There is an allowance of £15,000. Further conditions apply, so please consult with us.


Consideration on shares over £1,0000.5%


Incremental rates of tax are only payable on the part of the property price within each band. An extra 3% rate (4% in Scotland) applies to purchases of additional residential property above £40,000 and all corporate residential properties.

England & Northern Ireland: Stamp duty land tax

On transfer of residential property*                    On transfer of non-residential property
£0 – £125,0000%£0 – £150,0000%
Over £125,000 – £250,0002%Over £150,000 – £250,0002%
Over £250,000 – £925,0005%Above £250,0005%
Over £925,000 – £1.5m10% 
Above £1.5m12% 

*First-time buyers pay nothing on the first £300,000 for properties up to £500,000. A 5% rate will also apply between £300,000 and £500,000.

For residential purchases by ‘non-natural persons’ over £500,000 a rate of 15% applies, subject to certain exclusions.

Scotland: Land and buildings transaction tax

On transfer of residential property*                    On transfer of non-residential property
£0 – £145,0000%£0 – £150,0000%
Over £145,000 – £250,0002%Over £150,000 – £250,000   1%
Over £250,000 – £325,0005%Above £250,0005%
Over £325,000 – £750,00010% 
Above £750,00012% 

*First-time buyers pay nothing on the first £175,000.

Wales: Land transaction tax

On transfer of residential property              On transfer of non-residential property
£0 – £180,0000%£0 – £225,0000%
Over £180,000 – £250,0003.5%Over £225,000 – £250,000   1%
Over £250,000 – £400,0005%Over £250,000 – £1m        5%
Over £400,000 – £750,0007.5%Above £1m6%
Over £750,000 – £1.5m10% 
Above £1.5m12% 

Residential property developer tax

On annual profits in excess of £25m4%


These rates and allowances are based on Budget 2021 announcements made by the UK and Northern Ireland, Scottish and Welsh Governments and are for information only. 

All information is subject to change before 6 April 2022 and confirmation by the respective governments. The above must not be considered advice and no warranty is given for the accuracy or completeness of the details. Professional advice should be sought before making any decisions.

Rates apply to the UK and Northern Ireland unless stated otherwise.