Tax Rates 2007/08
Introduction
Income Tax
Capital Gains Tax
Corporation tax
Main Capital Allowances
Value Added Tax
Inheritance Tax
Vehicle Benefits
Mileage Allowances
NI Contributions
Key Dates and Deadlines
Pension Premiums
Charitable Giving
Savings and Investment
Some Useful Rates
Stamp Taxes

Capital Allowances

Plant and Machinery:

Energy saving and environmentally beneficial equipment, electric and low CO2 emission (up to 110 g/km) cars, natural gas/hydrogen refuelling equipment:  first year allowance 100%

Annual investment allowance (AIA) – on first £50,000 of investment 100%
(excludes cars and expenditure already qualifying for 100% first year allowance)

Writing down allowance (WDA) on expenditure not qualifying for AIA:
Long-life assets, integral features of buildings 10%

Other plant and machinery (cars maximum WDA £3,000) 20%

Buildings:

Industrial and agricultural buildings and hotels WDA (on building cost) 3%

Enterprise Zone allowance, conversion of parts of business premises into flats, business premises renovation: max initial allowance 100%