Tax data guide rates for 2020/21 corporation tax, capital allowance - Martax Accountants

Financial year to	31/03/2021	31/03/2020
Rate	19%	19%

Shares and marketable securities	0.5%³
Transfers of land and buildings₄
Residential (on band of consideration)₅,₆,₇
£0 – £125,000	0%
£125,001 – £250,000	2%
£250,001 – £925,000	5%
£925,001 – £1,500,000	10%
Over £1,500,000	12%
Non-residential (on band of consideration)
£0 – £150,000	0%
£150,001 – £250,000	2%
Over £250,000	5%
Leases (Rent – on band of net present value)₄
Residential	Non-residential
£0 – £125,000	£0 – £150,000                            0%
Over £125,000	£150,001 – £5,000,000            1%
N/A	Over £5,000,000                         2%
Premiums₄
Duty on premiums is the same as for transfers of land.

1 Subject to lifetime limit on gains of £1 million.
2 Subject to lifetime limit on gains of £10 million.
3 Rounded up to the nearest multiple of £5. Transactions of £1,000 or less exempt.
4 Transfers of land and leases in Scotland are chargeable to land and buildings transaction tax, and in Wales to land transaction tax. Different rates of tax may apply.
5 Where the consideration exceeds £500,000 and the purchase is by – or by a partnership including – a company or collective investment scheme enveloping the property, the rate is 15% of the total consideration.
6 Where the consideration is no more than £500,000 and the purchaser is a first-time buyer, the 0% band is increased to £300,000 (and the 5% rate applies to any consideration above £300,000). Includes qualifying shared ownership property.
7 Rates are increased by 3 percentage points for certain purchases, including purchases of additional residential properties by individuals. Transactions under £40,000 are excluded.

2020/21 – cars first registered after 5 April 2020
CO2 emissions  g/km	Electric range (miles)	% of list price	CO2 emissions g/km	% of list price
0	N/A	0	100-104	23
1-50	>130	0	105-109	24
1-50	70-129	3	110-114	25
1-50	40-69	6	115-119	26
1-50	30-39	10	120-124	27
1-50	<30	12	125-129	28
51–54		13	130-134	29
55–59		14	135-139	30
60–64		15	140-144	31
65–69		16	145-149	32
70–74		17	150-154	33
75–79		18	155-159	34
80–84		19	160-164	35
85–89		20	165-169	36
90–94		21	170 or more	37
95–99		22

Rates are 2% higher (up to max 37%) for cars registered before 6 April 2020.
4% supplement (up to max 37%) applies to diesel cars which do not meet the RDE2 standard.

Car fuel benefitFor 2020/21, car fuel benefit is calculated by applying the above car benefit percentage to a figure of £24,500.

Dredging	Rate%
(straight-line basis)
Writing-down allowance	4
Know-how
(reducing balance basis)
Writing-down allowance	25
Mineral extraction
(reducing balance basis)
Writing-down allowances
General	25
Acquisition of mineral asset	10
Patent rights
(reducing balance basis)
Writing-down allowance	25
Plant and machinery
(reducing balance basis)
Annual investment allowance – max £1,000,000 pa
(max £200,000 pa from 1/1/2021)	100
First-year allowances
New cars with CO2 emissions 50 g/km or less	100
New gas refuelling stations	100
New zero-emission goods vehicles	100
New assets for use in designated
areas of enterprise zones (companies only)	100
New electric charge-point equipment	100
Writing-down allowances
General	18
Cars (other than low-emission cars)	6
Special rate expenditure
(including integral features and thermal insulation)	6
Long-life assets	6
Research and development
Allowance	100
Structures and buildings
(straight-line basis)
Writing-down allowance	3

Standard rate	20%
Reduced rate	5%
Registration threshold	£85,000 pa
Deregistration limit	£83,000 pa
Annual accounting scheme turnover limit	£1,350,000 pa
Cash accounting scheme turnover limit	£1,350,000 pa
Flat rate scheme turnover limit	£150,000 pa