budget report 2011

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Main Due Dates for Tax Payment

Income Tax and Capital Gains Tax – Self-assessment
31 January in tax year: Normally 50% of previous year's income tax,
less tax deducted at source
Following 31 July
 Normally 50% of previous year's income tax,
less tax deducted at source
Following 31 January: Balance of income tax and all CGT
Inheritance Tax
On death: Normally 6 months after month of death
Lifetime transfer 6 April-30 September: 30 April in following year
Lifetime transfer 1 October-5 April: 6 months after month of transfer
Corporation Tax
Self-assessment: 9 months after end of accounting period.
 
Payable by instalments where profits are £1.5m or over. Normally payable in 7th, 10th, 13th and 16th months after start of accounting period.
 
Growing companies: no instalments where profits are £10m or less and the company was not a large company for the previous year.

Budget Summary

  1. Capital taxes
  2. Charities
  3. Miscellaneous
  4. National insurance contributions
  5. Personal and trust taxation
  6. Value added tax (VAT)

Tax Tables

  1. Basic State Pension
  2. Capital Gains Tax
  3. Car Benefit For Employees
  4. Company Cars
  5. Corporation Tax
  6. Fuel Benefit
  7. Income Tax
  8. Individual Savings Accounts (ISAs)
  9. Inheritance Tax
  10. Main Capital and Other Allowances
  11. Main Due Dates for Tax Payment
  12. Main Personal Allowances and Reliefs
  13. National Insurance Contributions
  14. Registered Pensions
  15. Stamp Duties
  16. Tax-Free Mileage Allowance
  17. Value Added Tax