Dental Accounts
Tax Tables

Some tax information that may be of interest to dental practitioners:

INCOME TAX
2016/2017
2015/2016
Basic rate band - income up to
Starting rate for savings
Basic rate
Dividend ordinary rate
Higher rate - income over
Higher rate
Dividend upper rate
Additional rate - Income over
Additional rate
Dividend additional rate
Starting rate limit (Savings Income)
£32,000
*0%
20%
**7.5%
£32,000
40%
32.5%
150.000
45%
**38.1% *£5,000
£31,785
*0%
20%
10%
£31,785
40%
   32.5%
£150,000
£45%
37.5%
*£5,000
For 2017/17 Scottish Taxpayer effectively subject to the same income tax rates as rest of Uk.
*If an Individual's taxable non-savings income exceeds the starting rate limit, then the starting rate limit for savings will not be available for savings income. For 2016/17 £1000 of savings income for basic rate taxpayers (£500 higher rate) may be tax free.
**For 2016/17 first £5000 of dividends are tax free.
PERSONAL ALLOWANCES    
Born after 5th April 1938
Born before 6th April 1938
£11,000
*£11,000
£10,600
*£10,660
Married couple's allowance (MCA) 
Either partner born before 6 April 1935 

*£8,355
 
*£8,355
Transferable tax allowance
For certain married couples (Relief 20%) £1,100  £1,060
*Allowances for are reduced by £1 for every £2 that adjusted net income exceeds £27,700 (27,000) to a minimum PA of £11,000 (10,000) and to a minimum MCA of £3,220. where adjusted net income exceeds 100,000, PA is reduced in the same way until it is nil regardles if individuals date of birth.
NATIONAL INSURANCE CONTRIBUTIONS
2016/2017
Class 1 not contracted out
Employer
(primary)
Employee
(secondary)
Payable on Weekly earnings of:
Below £112(Lower earnings limit)
£112 to £155 (Employer's primary threshhold)
up to £156(secondary threshold)
above £156
£155.01-£815 (upper earnings limit)
£156.01-£815 (Upper secondary threshold-under 21) and apprentices over 25
Above £815

Nil
0%
-
-
**12%
   12%
**2%


Nil
13.8%
-
0%
*No NIc's are actually payable but notional class 1 NIC is deemed to have been payed, this protects certain basic state benefit entitlements. ** over state pension age employee contribution is generally Nil  
Employment Allowance
up to £3000 (per year)
Class 1A On relevant benefits
13.8%
Class 2 Self employed
Limit of net earnings for exception
£2.80 per week
£5,965 per annum
Class 3 Voluntary contributions may be available to 5thApril 2017 in order to obtain extra additional state pension (maximum £25 per week)-variable rates acording to age
£14.10 per week
Class 4 *Self employed on profits
£8,000 - £42,385
Excess over £42,385
*exemption applies if state retirement age is reached by 6th April 2013

9%
2%