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Car, Van and Fuel Benefits
2022/23
CO2 emissions g/km
Capital Gains Tax
Individuals
2022/23
2021/22
% of list price taxed
Exemption
Standard rate
Higher/additional rate
Trusts
Exemption
Rate 20% 20%
Higher rates (18/28%) may apply to the disposal of certain residential property and carried interest.
Business Asset Disposal Relief
The first £1m of qualifying gains are charged at 10%.
Property Taxes
Across the whole of the UK, residential rates may be increased by 3% (4% in Scotland and Wales) where further residential properties are acquired.
Stamp Duty Land Tax Land and buildings in England and N. Ireland
02
£12,300 10% 20%
£12,300 10% 20%
1-50
Electric range
51-54
For every extra 5
160 and above
130 or more 2
70 - 129 5
40-69 8
30-39 12
under 30 14
15
+1 37
£6,150
£6,150
For fully diesel cars generally add a 4% supplement (unless the car is registered on or after 1 September 2017 and meets the Euro 6d emissions standard) but the maximum is still 37%. For emissions of 75g/km or more if theCO2 figuredoesnotendina5or0rounddowntothenearest5or0.
Car fuel benefit
Van benefit
Van fuel benefit
Capital Allowances
2022/23
£25,300
£3,600
£688
130% 100% 50%
6%
18% 3%
From 1.4.21
20%
5%*
£85,000
£83,000
Residential Band £
0 - 125,000 125,001 - 250,000 250,001 - 925,000
Rate Non-residential Rate % Band £ %
0 0 - 150,000 0 2 150,001 - 250,000 2 5 Over 250,000 5
Corporation tax super-deduction on certain plant and machinery
925,001 - 1,500,000 10
First Year Allowance (FYA) on certain plant, machinery and cars of 0g/km
Over 1,500,000 12
First-Time Buyer relief may apply to residential purchases up to £500,000. Land and Buildings Transaction Tax Land and buildings in Scotland
Corporation tax FYA on long-life assets, integral features of buildings, etc.
Annual Investment Allowance (AIA) £1,000,000 (£200,000 from 1 April 2023)
Excludes cars
Writing Down Allowance
Long-life assets, integral features of buildings, cars over 50g/km
Other plant and machinery
Structures and Buildings Allowance
Residential Band £
0 - 145,000
145,001 - 250,000
250,001 - 325,000
Rate Non-residential Rate % Band £ %
0 0 - 150,000 0
2 150,001 - 250,000 1
5 Over 250,000 5
325,001 - 750,000 10
Over 750,000 12
First-Time Buyer relief may apply on the first £175,000 of residential purchases. Land Transaction Tax Land and buildings in Wales
Value Added Tax
Standard rate
Reduced rate
Annual Registration Limit
Annual Deregistration Limit
From 1.4.22
20%
5%
£85,000
£83,000
Residential Band £
0 - 180,000 180,001 - 250,000 250,001 - 400,000
400,001 - 750,000
Rate Non-residential Rate % Band £ %
0 0 - 225,000 0 3.5 225,001 - 250,000 1 5 250,001 - 1,000,000 5
7.5 Over 1,000,000 6
*12.5% for hospitality and tourism from 1 October 2021 - 31 March 2022.
750,001 - 1,500,000 10
Over 1,500,000 12
Disclaimer: Rates are for guidance only. Whilst we take care to ensure the accuracy of this document, no responsibility for loss occasioned by any person acting or refraining from action as a result of this information can be accepted by the authors or firm.
Page 16 Rates & Allowances