Budget 2003


Main Income Tax Reliefs

Income Tax Rates and Bands

Car Benefit Assessment

Tax Free Mileage Allowances

National Insurance Contributions

Personal Pensions and Retirement Annuity Premiums

Inheritance Tax

Value Added Tax

Capital Gains Tax

Corporation Tax

Main Capital Allowances

Stamp Duty

Earliest due dates for payment of tax

Value Added Tax

Standard rate (7/47 of VAT-inclusive price) 17.5%
Registration level from 10.4.03 £56,000 per annum
Deregistration level from 10.4.03 £54,000 per annum
Scale Charges (from 1.5.03)
  Monthly Quarterly Annual
Up to 1400cc £79 £237 £950
1401-2000cc 100 300 1,200
Over 2001cc 147 442 1,770
Up to 2000cc 75 225 900
Over 2001cc 94 283 1,135
The VAT payable is 7/47 of these figures, which are VAT inclusive.