Tax rates and allowances

With changes in the tax system now an ever-present feature, our up-to-date experience is available to ensure clients'' tax liabilities are planned to be at a minimum.

2012/13

Most of the rates for the next tax year have now been announced, and this area of our site has been updated to show these changes.

Key changes this tax year include:

• An increase in the personal allowance for those under 65 to £8,105
• A reduction in the main rate of corporation tax to 24%
• ISA investment allowance limit of £11,280
• New higher rates of stamp duty land tax of 7% and 15%
• VAT registration threshold now £77,000