Income tax personal allowances
The basic personal allowance for 2020/21 is £12,500 The higher rate threshold including the personal allowance is £50,000.
Monthly primary threshold increased to £792 from 6th April 2020.
Threshold for registration is currently £85,000. Deregistration limit is £83,000.
Main and small profits rate is 19% for 2020/21.
A National Insurance allowance of £4,000 for 2020/21 can be offset against Class 1 secondary NI liabilities.
Annual Investment Allowance
The current annual investment allowance is £1,000,000 per annum.