TAX TABLES
Download this information as a PDF 2018
CORPORATION TAX
Rates for financial years starting on 1 April
The measure sets the CT main rate for each year from the financial year beginning 1 April 2017 to the financial year beginning 1 April 2020, reducing the CT main rate to 17% by 2020.
| Rate | 1 April 2016 | 1 April 2017-2018-2019 | 1 April 2020 |
|---|---|---|---|
| Main rate (all profits except ring fence profits) |
20% | 19% | 17% |
- Corporation Tax balance due within the 9 months after ARD.
- CT600 & Financial statements have to be filed within 12 months after ARD
- Financial statements have to be filed with the Companies House within 10 months after ARD.
VALUE ADDED TAX (VAT)
| Rate | % VAT | What the rate applies to |
|---|---|---|
| Standard | 20% | Most goods and services |
| Reduced | 5% | Some goods and services, eg children’s car seats and home energy |
| Zero rate | 0% | Zero-rated goods & services, eg food products not transformed and children’s clothes |
Registration to UK VAT :
To get a UK VAT number is not linked to the registration of your new company. A specific procedure with the HMRC is required to apply for it.
Compulsory registration :
- UK sales > GBP 85 000 per year 2017
- Distance selling > GBP 70 000 per year
VAT n° format
GB + 9 figures
Dates de déclarations :
You usually submit a VAT Return to HM Revenue and Customs (HMRC) every 3 months.
BE AWARE !
The taxable rate applicable to a company for profits is mainly due to its place of registration but the Tax Office will also take into consideration in case of Tax Control the reality of the activity : existing premises, local clients, local employees, where the work is done, place of living of directorship...
INCOME TAX 2017-2018
Income Tax is deducted at source in the UK, directly on the payslip on a monthly basis as per the Tax code allocated by HMRC to each UK resident.
Taxable Income
| Rate | Taxable Income |
|---|---|
| Personnal Allowance 0% | Up to £11 850 |
| Basic rate 20% | £1 to £34 500 |
| Higher rate: 40% | £34 501 to £150 000 |
| Additional rate 45% | Over £150 000 |
Income Tax Allowances
| Income Tax allowances | 2018/2019 |
|---|---|
| Personal Allowance | £11 850 |
| Minimum amount of married couple’s allowance | £3 360 |
| Blind Person's Allowance | £2 390 |
| Child Benefit– First child | £20.70 weekly |
| Child benefit—Additionnal children | £13.70 weekly |
DOUBLE TAX AGREEMENT France - United Kingdom
This agreement aims at reducing double taxation as per your residency & domiciliation status :
- If you benefit from a non resident status, Income Tax is not deducted through PAYE scheme in the UK.
- Income Tax paid in the UK can be deducted in France from French Income Tax due on your worldwide incomes.
- Some expenses may not be deductible on a Tax Point of view & be reintegrated before calculating Corporation Tax.
- Directors have to declare if they own other companies & this may modify the way the Corporation Tax is calculated.