JMC Accountancy Limited

We do the accouting, so you can do the business. 

Tax Rates

Income Tax Allowances

Income Tax Allowances
 2016/17
 2015/16
Personal Allowance
 £
 £
 General 
 11,000
10,600
 Income limit
100,000 
 100,000
 Born after 5.4.1938 
but before 6.4.1948
11,000 
10,600 
 Born before 6.4.1938
11,000 
10,660 
 Blind Person's Allowance
 2,290
 2,290
 Marriage Allowance
              1,100
           1,060
 Dividend Allowance 
             5,000
            N/A

Income Tax Rates

Taxable Income 
 2016/17
  Taxable Income
 2015/16
0-32,000
 20%
   0-31,785
 20%
 32,001-150,000
 40%
   31,786 - 150,000
 40%
 Over 150,000
 45%
   Over 150,000
 45%

Value Added Tax

Standard rate
 20%
Lower rate
 5%
 Registration threshold from 1 April 2014
 £83,000pa
 Deregistration limit from 1 Apirl 2014
 £81,000 pa

Corporation Tax Rates

Financial Year to
 31/03/2017
 31/03/2016
Corporation Tax Rate
 20%
 20%

Tax-free mileage allowance

Motorcars and Vans
(per mile)
 2016/17
Up to 10,000 business miles
45p
 Over 10,000 business miles
 25p
 Each passenger making same trip
 5p
 Motorcycles
 24p
 Cycles
 20p